Benchmark indices ended at record closing high level amid buying in the auto, metal, IT and pharma stocks. The Sensex closed up 199.31 points or 0.49% at 41020.61, while Nifty was up 63 points or 0.52% at 12100.70. Major gainers on the Nifty were Yes Bank, UltraTech Cement, SBI, Maruti Suzuki and Hindalco Industries, while losers include Bharti Infratel, Cipla, L&T, ICICI Bank and ITC. About 1210 shares have advanced, 1274 shares declined, and 209 shares remain unchanged.
During early hours on Wednesday morning, equity benchmark indices edged higher as auto and metal stocks showed gains amid positive trends in Asian markets. At 10:15 am, the BSE Sensex bounced by 180 points to 41,001 while the Nifty 50 gained by 54 points to 12,092.
All sectoral indices at the National Stock Exchange were in the green except for Nifty realty. Nifty auto added gains of 1.13 per cent while Nifty metal rose by 0.69 per cent. Yes Bank moved up by 4.99 per cent to level at Rs 66.30 per share while home financer HDFC was up by 1.49 per cent at Rs 2,339 apiece.
Auto majors lifted the market sentiment with Tata Motors gaining by 2.6 per cent, Mahindra & Mahindra by 1.8 per cent and Maruti by 1.4 per cent.Metal stocks also saw a spurt with Vedanta gaining by 1.4 per cent and JSW Steel by 1.2 per cent. The other prominent gainers were UltraTech Cement, Wipro and UPL.
Meanwhile, world shares made another push for an elusive record high on Wednesday after US President Donald Trump said Washington and Beijing were in the final throes of inking an initial trade deal.
Early European trading was relatively subdued, with MSCI`s all-country world index now within 0.4% of its record high from January 2018 but lacking any real urgency.
London, Frankfurt, and Paris were all inching higher, Shanghai struggled after industrial company profits shrank while Australian shares had hit record highs and Japanese stocks drew support from the growing chance of extra fiscal stimulus, according to Reuters.