Both top indices ended around half a per cent higher at record closing highs. The Sensex rose 408.9 points to settle at 74,086 while the Nifty50 added 117.8 points to 22,474.1, after scaling all-time highs of 74,151.3 and 22,497.2 in intraday trade respectively.
The domestic market benchmark, the Sensex, hit a fresh record high, surpassing the coveted 74,000 mark for the first time, while the Nifty 50 also reached a new peak in intraday trading on Wednesday, March 6th, on gains led by banking heavyweights, including Axis Bank, ICICI Bank and Kotak Mahindra Bank.
On the other hand, Adani Enterprises, NTPC, UltraTech Cement, and BPCL were among the top losers, down around 2-1 per cent.
“The domestic market exhibited a smart recovery in the second half, reversing initial losses as buying picked up in large-cap stocks.” Vinod Nair, Head of Research, Geojit Financial Services said.
High beta Nifty Bank settled 0.81 per cent or 384.4 points higher at 47,965.4 led by nine advancing stocks. On the flip side, the Nifty SmallCap 100 shed 1.96 per cent while Nifty MidCap 100 declined 0.52 per cent. “The broader index continued to underperform with probit booking in Mid & Small caps reflecting worries about stretched valuations,” he added.