Market Hits Record High For 3rd Day In Row; Sensex At Lifetime 69,614, Nifty Nears 21,000 Mark

The Indian equity market marked its third consecutive session of trading at lifetime highs on Wednesday, with the BSE Sensex surging 317 points to reach an all-time high of 69,614. Meanwhile, the NSE Nifty index also climbed 101 points higher to scale a fresh peak of 20,957. The rally was underpinned by robust performances in the energy, pharma, and consumer sectors.

In the broader market, Nifty Midcap 100 rose by 0.56%, while small-cap shares experienced a slight dip of 0.07%. The India VIX, a fear index, fell by 2.41% to 13.13.

Global markets provided a mixed backdrop for India's performance, with Asian shares mostly in the green while Wall Street equities closed lower overnight. Foreign portfolio investors (FPIs) showed strong confidence in the Indian market, buying shares worth Rs 5,224 crore during the previous session. In contrast, domestic institutional investors (DIIs) sold shares worth Rs 1,399 crore.

Sector-wise, 14 out of the 15 sectors compiled by the NSE were trading positively. The notable outperformers included Nifty Oil & Gas, Nifty Pharma, Nifty FMCG, Nifty Consumer Durables, and Nifty Bank, rising by as much as 1.47%, 0.47%, 0.40%, 0.27%, and 0.33%, respectively. However, Nifty Auto slipped marginally by 0.01%.

Adani Ports emerged as the top gainer on Nifty, surging by more than 3% to trade at its all-time high. Other notable gainers included LTIMindtree, UPL, Adani Enterprises, and ITC, gaining up to 2.20%. On the flip side, Bajaj Auto, ICICI Bank, Eicher Motors, Hindalco, and UltraTech Cement were among the top losers.

The market rally was primarily driven by the energy sector, benefiting from moderating crude prices. However, the global market rally eased ahead of key US data.

Market breadth remained positive, with 1,729 shares advancing and 1,221 declining on the BSE. Among the top gainers on the 30-share BSE index were ITC, Reliance Industries, Infosys, L&T, TCS, Bajaj Finance, and Asian Paints.

Notable surges were seen in Adani Total Gas, Adani Green Energy, Adani Energy Solutions, NDTV, and DCW, rising to 14.52%. Conversely, Can Fin Homes, Computer Age Management Services (CAMS), Safari Industries (India), Torrent Pharma, and Swan Energy experienced declines of up to 4.44%.