Benchmark Indian stock market indexes Nifty and Sensex hit record high levels on Wednesday as US markets and fresh foreign fund inflows gained momentum. The increase in domestic stocks can be attributed to the global market rally and firm macro fundamentals, including GDP outlook, moderate inflation and strong purchases.
Sensex gained 299.97 points to take its tally to 63,716, while NSE Nifty reached its peak at 18,908, climbing 90.75 points. The stocks were bolstered by purchasing heavyweight stocks like Reliance Industries and HDFC Bank, reported PTI. The US markets had also ended significantly higher on Tuesday.
Companies like Titan, Bajaj Finance, State Bank of India, ITC, Larsen & Toubro, IndusInd Bank, HDFC Bank, Reliance Industries, and more were among the major gainers in the Sensex pack, while Tech Mahindra, Axis Bank, Kotak Mahindra Bank and HCL Technologies lagged behind.
The Indian stock markets were supposed to remain closed on account of Eid-ul-Adha (Bakrid), but a change in policies rescheduled the holiday for the stock markets to Thursday.
(with PTI inputs)
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