NEW DELHI: Equity indices continued to surge for the sixth straight session on Wednesday with both the BSE and NSE indices scaling fresh closing highs.
After touching an intra-day high of 47,808, the 30-share BSE index rose 133 points or 0.28 per cent to close at 47,746; while the broader NSE Nifty settled 49 points or 0.35 per cent higher at 13,982.
Top gainers in the sensex pack included Ultra Cemco, Bajaj Finance, Maruti, M&M, Asian Paints, Tech Mahindra and Kotak Bank with their shares rising as much as 4.59 per cent.
While IndusInd Bank, Sun Pharma, SBI, Axis Bank, TCS and Bharti Airtel falling up to 1.60 per cent.
On the NSE platform, sub-indices Nifty Auto, Metal and Realty gaining up to 1.34 per cent.
According to analysts, stock markets in India and around the world have rebounded strongly from the pandemic lows of March, thanks to Covid-19 vaccine development and measures from global central banks to cushion the economic fallout from the crisis.
“We’re seeing some … tapering of inflows in the year-end. I don’t see any deep correction happening, unless there is some really bad news which will cause withdrawal of liquidity,” Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors in Mumbai told news agency Reuters.
“While there is a lot of over-valuation, there is also a lot of liquidity support,” he added.
Meanwhile, foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,349.53 crore on a net basis on Tuesday, according to provisional exchange data.
(With agency inputs)