The rise of Sensex and Nifty doesn’t seem like stopping. Despite a fall in the stocks of telecom and metal, Sensex closed at 36,161.64, higher by 21.66 points while the Nifty rose 2.30 points to close at 11,086.
Benchmarks Sensex and Nifty 50 ended at fresh lifetime highs for yet another session on Wednesday, powered by unabated buying by participants and healthy corporate results.
Telecom stocks tumbled up to 6.5% after Reliance Jio decided to offer extra data on some plans, intensifying the tariff war in the sector. Speculators covered their short positions ahead of the January derivatives expiry on Thursday, building up the momentum.
In intraday trade, Sensex rose to an all-time high of 36,268.19, while Nifty hit a fresh record of 11,110.10.
Among the sectoral indices on BSE, telecom suffered heavy losses at 3.54% followed by consumer durables and metal. IT and PSU bank stocks led the gains. Meanwhile, FPIs bought shares worth a net Rs1,229.35 crore, while DIIs made purchases to the tune of Rs169.03 crore on Tuesday, provisional data showed. Here are the highlights from the markets.