Domestic stock markets started Wednesday’s session on a positive note, continuing to rise for the third day in a row, amid gains in Asian equities. The S&P BSE Sensex index gained as much as 260.19 points – or 0.68 per cent – to touch 38,788.51 in early trade, having started the day up 199.57 points (0.52 per cent) at 38,727.89. The broader NSE Nifty 50 benchmark climbed to as high as 11,460.35, up 75 points (0.66 per cent) from its previous close, after opening at 11,452.15. Gains in financial, automobile and energy stocks pushed the markets higher.
At 9:19 am, the Sensex traded 220.22 points – or 0.57 per cent – higher at 38,748.54 while the Nifty was up 69.45 points – or 0.61 per cent – at 11,454.80.
Reliance Industries shares rose as much as 1.47 per cent to quote at Rs 2,150 apiece on the BSE, after the oil-to-telecom conglomerate acquired a majority stake in online pharmacy Netmeds for Rs 620 crore.
Asian equities mostly moved higher on Wednesday after a strong Wall Street session in which the S&P 500 hit an all-time high.
MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.14 per cent higher in early trade, while Japan’s Nikkei 225 benchmark was up 0.39 per cent.
On Tuesday, the Sensex had ended 1.26 per cent higher at 38,858.32 and the Nifty 1.23 per cent at 11,385.35, their highest levels since February 27 and March 3 respectively.
