Indian stock markets scaled fresh record highs on strong buying across key sectors. Benchmark indices Sensex and Nifty closed sharply higher on Wednesday, driven by gains in PSU banks, auto and metal stocks.
The Sensex jumped 573 points to close at 85,762, while the Nifty rose 182 points to settle at 26,328. During the session, Nifty touched an all-time high of 26,330, reflecting strong investor confidence.
Meanwhile, Bank Nifty hit a new lifetime high of 60,152.35, supported by heavy buying in banking stocks. The PSU Bank index emerged as the top gainer, rising 1.78 percent. In addition, Auto, Metal, Realty and Power indices gained nearly 1 percent each.
However, the FMCG sector witnessed profit booking and slipped 1.15 percent, limiting broader gains.
Market breadth remained positive. At the close, 2,527 stocks advanced, while 1,347 stocks declined on the NSE.
Auto stocks attracted strong buying after encouraging vehicle sales data. Moreover, stable domestic macroeconomic indicators and optimism over India’s growth outlook boosted overall market sentiment.
In the broader market, the Nifty Midcap 100 gained 1.04 percent, while the Smallcap 100 rose 0.78 percent, indicating broad-based participation.
According to market analysts, if Nifty sustains above the 26,300 level, the rally could extend towards 26,500–26,700 in the near term.
Meanwhile, the rupee weakened beyond the 90 mark against the US dollar during the session. Experts believe that upcoming corporate earnings and global cues will decide the next market direction.
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