Indian shares continued their record-setting spree for the fourth straight session on Wednesday, with the BSE Sensex rising over 200 points to breach the 69,500 mark and NSE Nifty reclaiming 20,900 levels.
However, markets trimmed some initial gains as investors booked profits in banking, realty, and auto counters. ITC, Wipro, Nestle, and Asian Paints bucked the trend to trade higher on the 30-share index.
Broader indices outshone benchmarks, with Nifty Midcap 50 rising half a percent. Media and oil & gas stocks also saw strong buying interest.
After hitting lifetime highs of 69,599 and 20,955 respectively earlier in the day, benchmark indices pared some gains but continued their upward trajectory overall.
On Tuesday, the Sensex had rallied over 400 points to end above 69,000, while the Nifty settled at a record closing peak of 20,850.
“RBI’s upcoming policy decision is keeping investors cautious in Wednesday’s session,” said Gaurav Garg, Head of Research, CapitalVia Global Research.
The rupee appreciated marginally to 83.35 against the dollar in opening deals. FIIs purchasing local equities along with stocks touching new highs boosted forex market sentiment.
Equities in other Asian markets were mixed as investors weighed risks like a potential Covid surge in China against prospects of reopening.
