Indian shares rose on Wednesday to reach new highs, with investor sentiment buoyed by falling oil prices and declining bond yields.
A strong mandate for the ruling party at the Centre in the recently concluded state elections also raised expectations of political stability and improved GDP growth.
The benchmark S&P BSE Sensex rose 357.59 points, or 0.52 percent, to 69,653.73, closing at a new record high for a third consecutive session on the back of strong institutional flows.
The broader NSE Nifty index also closed at a record high of 20,937.70, up82.60 points, or 0.40 percent, from its previous close.
IT stocks topped the gainers list, with TCS, LTIMindTree and Wipro surging 2-4 percent on the back of declining global bond yields. Larsen & Toubro and ITC both rose over 2 percent.
Sterling & Wilson Renewable Energy hit the 5 percent upper circuit limit after reports that it may launch a Rs. 1.500-crore QIP issue by next week.
Hindustan Aeronautics, the maker of the twin seater lights combat aircraft Tejas, jumped 6.8 percent ahead of the two-day HAL Avionics Expo-2023 in New Delhi.
Market Analysis
Sensex, Nifty Reach New Highs On FII Flows
2023-12-06 10:34:18
