Sensex, Nifty scale fresh record highs; IT stocks lead gainers

Domestic equity indices shrugged off hard Brexit fears and continued to rally on Wednesday. Benchmarks Sensex and Nifty scaled another record highs amid heavy flow of Foreign Institutional Investors’ money into Indian equity market.

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 1,248 crore on Tuesday, data available with NSE suggested.

BSE flagship Sensex gained 95 points to 41,444. It hit a fresh high of 41,480.91. Meanwhile NSE barometer Nifty was trading 20 points higher at 12,181, after scaling all-time high of 12,199.05 in opening trade.


Broader market indices were in-line with their headline peers as Nifty Midcap gained 0.09 per cent to 16,953 and Nifty Smallcap gained 0.38 per cent to 5,711. Nifty 500 was up 0.11 per cent to 9,841.


Among Sensex stocks, Tech Mahindra was the biggest gainer, up 1.74 per cent at Rs 790.70 and its peer TCS gained 1.28 per cent to Rs 2,193. HCL Tech and Infosys were also among the gainers.

HUL, Vedanta and Bharti Airtel slid 1 per cent each and were among the biggest losers.


Globally, Asian stocks camped out at 18-month peaks on Wednesday having climbed for five straight sessions, while the British pound was licking fresh wounds as revived Brexit fears came back to bite it.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent to its highest since June last year. Japan's Nikkei dipped 0.3 per cent and off a 2019 top.

Shanghai blue chips added 0.3 per cent, after hitting an eight-month peak on Tuesday, as Beijing trimmed another short-term interest rate.

E-Mini futures for the S&P 500 were little changed, while EUROSTOXX 50 futures fell 0.1 per cent.