Nifty50 and Sensex soared to fresh all-time highs on Wednesday, primarily driven by Media, FMCG, and information technology stocks.
2
Nifty50, Sensex surge
The Nifty 50 surged 0.65% to 21,593.00 points, while the Sensex climbed 0.66% to 71,913.07 in early trading.
3
Media, FMCG, and IT lead
Among sectoral indices, Nifty Media led with gains of 1.75%. Nifty IT surged by 1.32% and Nifty FMCG showed an increase of 1.20%. All sectoral indices were in positive territory in early trade.
4
Top gainers & losers
In early trade, Top gainers included Tech Mahindra, LTIMindtree, Wipro, TCS, and Infosys. Among major losers were M&M, Maruti Suzuki, Bharti Airtel, Titan, and Sun Pharma.
5
Reasons behind rally
Steady domestic economic data, steady mutual fund investments, and high FIIs inflow contributed to the market's gains.
6
Positive global cues
Investors are also optimistic due to unchanged interest rates in China and Japan, declining oil prices, and a better US rate outlook.