India’s benchmark indices surged to new heights on Wednesday, propelled by a global rally fueled by renewed optimism that the U.S. central bank would initiate rate cuts as early as March next year.
The Sensex jumped 701.63 points or 0.98%, settling at its all-time closing high of 72,038.43, while the Nifty posted a gain of 213.40 points or 1%, reaching a record high of 21,654.75.
The upward momentum was propelled by robust performances in both large-cap and small-cap stocks.
Outperforming sectors included PSU banks and auto stocks, while oil and gas stocks experienced a decline. The Bank Nifty index scaled 557.35 points or 1.17% to settle at 48,282.20.
Notable gainers on the Nifty 50 included Ultra Tech Cement, Hindalco Industries, Bajaj Auto, JSW Steel, and Tata Motors.
ONGC, NTPC, Adani Enterprises, Britannia Industries, and UPL found themselves among the laggards.
