The Sensex, the leading stock index, rose to a record high by over 350 points in early trade on Wednesday due to positive global cues and strong growth in foreign investment. After touching an all-time high of 43,675.59, the BSE Sensex was trading up 353.60 points, or 0.82 percent, at 43,631.25 in the opening session.
Similarly, the NSE Nifty touched a new high of 12,752.90. By the time the news was written, the Nifty was trading at 12,740.05 with a gain of 108.95 points or 0.86 percent.
The four percent gain in Sensex was in M&M. Apart from this, Bajaj Finance, Kotak Bank, SBI, ONGC, L&T, Tata Steel, Bajaj Finserv, and Maruti were also trading rapidly.
On the other hand, IndusInd Bank, HUL, Powergrid, Titan, and Nestle India saw a decline.
The Sensex climbed 68.22 points or 1.6 percent in the previous session to close at 43,277.65 above the 43,000 level for the first time. The Nifty also closed at a record level of 12,631.1, up by 170.05 points or 1.36 percent.
According to provisional data of the stock market, foreign institutional investors bought shares worth Rs 5,627.32 crore on a gross basis on Tuesday. Arjun Yash Mahajan, head of institutional business at Reliance Securities, said that the major Asian markets along with India are seeing a boom. He added that apart from the NDA victory in Bihar and good quarterly results, the market got a boost.