Broad-based buying across sectors lifted benchmark indices to fresh lifetime highs on Wednesday. Gains were supported by HDFC twins, ITC, Reliance Industries, Asian Paints, and Mahindra & Mahindra (M&M). However, profit-booking at State Bank of India (SBI), ICICI Bank, and Infosys trimmed gains marginally.
The benchmark S&P BSE Sensex hit a record high of 41,614.77 in the intra-day trade today, but closed at 41,558.57 level, up 206.4 points or 0.50 per cent. M&M, Sun Pharma, Asian Paints, and ITC were the top gainers among the Sensex pack. Meanwhile, Tata Motors, HUL, YES Bank, and SBI settled as top laggards.
On the NSE, the broader Nifty50 -- for the first time -- closed above the 12,200-mark. The index ended at 12,224.60-mark, up 59.6 points or 0.49 per cent. The index scaled record peak of 12,237.70.
In the broader market, the mid-caps and small-caps ended the day in the negative territory. The S&P BSE mid-cap index closed 0.19 per cent lower at 14,789.29 level. The S&P BSE small-cap index, on the other hand, closed 0.05 per cent lower at 13,387.13 mark.
>> Shares of PC Jeweller slumped 7.14 per cent in the intra-day trade on the BSE today after market regulator Sebi demanded a show-cause from those whom it identified to have benefitted, in the insider-trading case. It also ordered impounding Rs 8 crore from the alleged insiders. The stock closed 5.4 per cent lower at Rs 24.50.
>> Tata Group stocks tumbled in the last trading hour today after the National Company Law Appellate Tribunal restored former Tata Sons chairman Cyrus Mistry as the chairman of the group, and called appointment of N Chandra as "illegal". Consequently, Tata Motors -- which traded near 7- month high in the intra-day trade today, closed at the top laggard among the Sensex pack, down 3%. Besides, TCS, Tata Global Beverages, Tata Chemicals, closed 0.02, 3.52, and 1.53 per cent lower respectively.
>> On the upside, though, shares of sugar companies rallied by up to 7 per cent in intra-day trade today on back of heavy volumes. Balrampur Chini Mills, Dalmia Bharat Sugar and Industries, Triveni Engineering & Industries, and Dhampur Sugar Mills advanced in the range of 3 per cent to 7 per cent on the BSE.
Asian stocks camped out at 18-month peaks on Wednesday having climbed for five straight sessions.
MSCI's broadest index of Asia-Pacific shares outside Japan was dead flat near its highest since June last year. Japan's Nikkei dipped 0.4 per cent and off a 2019 top. Shanghai blue chips were steady, after hitting an eight-month peak on Tuesday and as Beijing trimmed another short-term interest rate.
E-Mini futures for the S&P 500 ESc1 barely budged, as did futures for the EUROSTOXX 50 and the FTSE