Sensex, Nifty Open At Record High On Wednesday
Nifty bank indices opens at 50,607.90, up 0.33 per cent whereas, the Nifty midcap 100 starts with a new high of 55,679
Indian stock markets opened at a record high on Wednesday with Sensex rising over 242 points at 77,418 whereas the Nifty opened at 23,629.80, up by 71.90 points.
Nifty bank indices opened at 50,607.90, up 167 points or 0.33 per cent whereas, the Nifty midcap 100 started with a new high of 55,679.20, up 189.10 or 0 34 per cent.
Newly listed Le Travenues Tech, the parent company of Ixigo, buzzed in opening trade with a gain of 20 per cent.
In the opening trade, sectors such as financial services, pharma, private banks, and healthcare started in green, while auto, FMCG, IT, media, metal, and realty again started in red.
"The undercurrent of the market continues to be bullish. Sustained huge domestic flows are the principal driver of this rally. It is also important to understand that there is fundamental support to the rally from the strong economic growth and good corporate earnings, said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
"Global support from the mother market of the US, which is setting new records, also is a positive factor," he added.
As the US progressively moves closer to the presidential election in November, it is also benefiting from good trends in global markets.
Amidst persistent political concerns in France, European stocks saw a minor recovery in the global market, trailing the rise of Asian markets. Despite worries about interest rates, US futures remained stable after the S&P 500 reached its 30th record high of the year, helped by solid earnings and a positive economic outlook. (ANI)
