Market snaps 5-day losing streak led by realty, banking and metal
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
Indian equities ended on a positive note for the second straight session on Wednesday, tracking gains in IT, energy and auto sector amid strong global cues on hopes of fresh US stimulus.
The S&P BSE Sensex advanced by 393.83 or 0.80 per cent to close at its fresh record of 49,792.12 while the broader NSE Nifty jumped 123.55 points or 0.85 per cent to settle at a lifetime high of 14,644.70.
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Among Sensex stocks, Maruti rose the most by 2.75 per cent, followed by Tech Mahindra (2.67 per cent), Mahindra & Mahindra (1.98 per cent) and Asian Paints (1.98 per cent).
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Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
On the other hand, losers included Power Grid and NTPC which plunged 1.75 per cent and 1.35 per cent respectively.
World stocks advanced on Wednesday after US Treasury Secretary nominee Janet Yellen called for a hefty stimulus to protect the US economy.
President-elect Joe Biden, who will be sworn into office on Wednesday has laid out a $1.9 trillion stimulus package proposal to boost the economy.
As a result, Australia’s S&P/ASX 200 rose 0.4 per cent and South Korea’s Kospi by 0.6 per cent while Hong Kong’s Hang Seng added 0.7 per cent.
Japanese market, however, dropped 0.4 per cent due to fresh COVID-19 concerns.
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