MUMBAI — Indian equity benchmarks closed just shy of record highs on Wednesday, propelled by strong buying across sectors and upbeat global sentiment.
The Sensex surged 1,022.5 points, or 1.21 percent, to finish at 85,609.51. The Nifty climbed 320.5 points, or 1.24 percent, to end at 26,205.3, marking its first-ever close above the 26,200 level.
Market analysts noted that the Nifty formed a full bullish Marubozu candle, indicating sustained strength from the opening trade through the close with no significant selling pressure. They said the pattern reinforces the continuation of the uptrend, supported by a higher-high structure throughout the session.
Analysts added that if the Nifty can hold above 26,000 as a firm support level, it may soon test its all-time high range of 26,277 to 26,350 in the coming sessions.
Among the top performers on the Sensex were Bajaj Finance, Bajaj Finserv, Sun Pharma and Tata Motors PV. Bharti Airtel and Asian Paints were the only index constituents to finish lower.
All major sectoral indices ended in positive territory, underscoring broad-based investor enthusiasm. Nifty Metal led with a 2.06 percent gain, followed by Nifty Consumer Durables at 1.75 percent and Nifty Energy at 1.74 percent.
The broader market also participated actively. The Nifty Midcap 100 rose 1.27 percent, while the Nifty Smallcap 100 gained 1.36 percent.
Analysts said domestic equities benefited from the global “Santa Claus rally” and strong retail and domestic institutional investor inflows. Foreign institutional investor participation remained modest, but improving optimism about a possible truce between Russia and Ukraine helped bolster risk appetite.
“IIncreasing optimism surrounding a potential truce between Russia and Ukraine is enhancing risk appetite, fostering a positive outlook for the upcoming year,” analysts said. (Source: IANS)
