Indian shares eked out modest gains to close at fresh record highs on Wednesday as hopes of an interest rate cut by the RBI, encouraging earnings news from Tata Steel, strong capital inflows and the dollar's weakness in overseas markets helped investors shrug off weak cues from Asian and European markets.
Indian shares continued their record-setting spree on Tuesday, hitting all-time highs for the third time in five sessions, as investors remained bullish about the prospects.
The NSE 50-share Nifty was trading flat at 9,512.85, up 0.60 points or 0.01 per cent, at 1306 hrs.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,616.53 points, provisionally closed at 30,658.77 points (at 3.30 p.m.) - up 76.17 points or 0.25 per cent, from its previous close at 30,582.60 points.
The new intra-day highs of the benchmark indices are also their new 52-week highs.
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Barkley hasn't decided his future yet, but it is looking increasingly likley he will leave Goodison Park this summer. Meanwhile, a move for Walcott could also be a concern, as the England forward has fallen short of his potential.
However, the broader markets underperformed the Sensex.
Continuing their purchasing spree, foreign portfolio investors (FPIs) bought shares worth a net Rs 858.29 crore yesterday, as per provisional data from the stock exchanges. The scrip settled at Rs 42, up 4.7 per cent on the BSE. "Most banking sector stocks now traded with bearish sentiments on profit booking".
Major Sensex gainers on Wednesday were: Tata Steel, up 7.95 per cent at Rs 493.35; Tata Motors, up 2.82 per cent at Rs 449.65; ICICI Bank, up 2.35 per cent at Rs 309.80; Tata Consultancy Services (TCS), up 0.99 per cent at Rs 2,451.35, and Asian Paints, up 0.88 per cent at Rs 1,153.85.
However, Wipro fell by 1.70 per cent followed by Adani Ports 1.40 per cent, Cipla 0.94 per cent, HDFC 0.89 per cent, ITC 0.56 per cent, GAIL 0.56 per cent and ONGC 0.54 per cent.