Markets end at fresh high, Sensex closes above 44K for first time
The BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) hit fresh all-time highs on Wednesday, before settling at record closing levels.
Sensex touched an all-time intra-day high of 44,215.49 points during the fag end of the trade as the market rebound after a choppy first half. It closed above the 44,000-mark for the first time in its history, settling at 44,180.05, higher by 227.34 points or 0.52 per cent from its previous close of 43,952.71 points.
The Nifty50 closed at 12,938.25, higher by 64.05 points or 0.5 per cent from its previous close.
Healthy buying was witnessed in banking and auto stocks.
The top gainers on the Sensex were Mahindra & Mahindra, Larsen & Toubro and IndusInd Bank, while the major losers were Hindustan Unilever, ITC and Titan Company.
Earlier on the Day, The key Indian equity indices traded on a flat note on Wednesday morning with weak global cues.
At 9.38 a.m., Sensex was trading at 43,912.94, lower by 39.77 points or 0.09 per cent from its previous close of 43,952.71 points.
It opened at 43,978.58 and has so far touched an intra-day high of 44,051.66 and a low of 43,816.15 points.
The Nifty50 on the National Stock Exchange was trading at 12,865.65, lower by 8.55 points or 0.07 per cent from its previous close.
Shares of Lakshmi Vilas Bank plunged 20 per cent on Wednesday after the Centre placed it under moratorium.
Following an application submitted by the Reserve Bank of India (RBI), the Central government on Tuesday brought Lakshmi Vilas Bank under moratorium for 30 days, and restricted withdrawals by depositors to Rs 25,000 each.
The Centre issued the moratorium notification under Section 45 (2) of the Banking Regulation Act, 1949. The moratorium came into effect from 6 p.m. on Tuesday and will be in place up to December 16, 2020.
The notification also stays the commencement or continuance of all actions and proceedings against Lakshmi Vilas Bank.
Currently, its shares on the BSE are trading at Rs 12.40, lower by Rs 3.10 or 20 per cent from its previous close.
Key Indian equity indices recorded a sharp rebound during the afternoon session on Wednesday after choppy trade in the first half. BSE Sensex reclaimed the 44,000 mark and is trading above 44,100 points.
So far, healthy buying was witnessed in banking and auto stocks.
Around 2 pm, Sensex was trading at 44,112.37, higher by 159.66 points or 0.36 per cent from its previous close of 43,952.71.
It opened at 43,978.58 and touched an intra-day high of 44,136.01 and a low of 43,785.78 points.
The Nifty50 on the National Stock Exchange was trading at 12,915.70, higher by 41.50 points or 0.32 per cent from its previous close.
The top gainers on the Sensex were Mahindra & Mahindra, Larsen & Toubro and IndusInd Bank, while the major losers were Titan Company, Hindustan Unilever and TCS.