Sensex Hits 56k; Nifty Nears 16,700

Indian shares hit fresh record highs on Wednesday despite mixed global cues.

The benchmark 30-share BSE Sensex rose 245 points, or 0.4 percent, to 56,036 in early trade, while the broader NSE Nifty index was up 68 points, or 0.4 percent, at 16,683.

HDFC Bank rallied 2 percent. The RBI has allowed the private sector lender to resume issuing new credit cards.

Future Retail shares fell over 1 percent. The Delhi High Court told the Future Group to either get a stay from the Supreme Court or it will start hearing the issue of compliance with the emergency arbitrator’s order.

Canara Bank edged down slightly after launching a QIP issue.

SpiceJet declined 1.5 percent as it kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress.

HCL Technologies was slightly higher after winning a five-year IT transformation deal from a German company.

Infosys was moving lower after it agreed to invest an additional sum $0.45 million in Tidal Scale Inc.

Bharat Dynamics gained nearly 3 percent. The company has signed a licensing agreement with MBDA to establish a facility for the final assembly, integration, and test of ASRAAM missiles in India.

Dilip Buildcon rose about 1 percent. Dhrol Bhadra Highways, a wholly-owned subsidiary of the company, has received the financial closure letter from the NHAI for four laning of Dhrol-Bhadra Patiya section of NH-151A in Gujarat.

Kaveri Seed Company jumped 5.5 percent on share buyback news.