Sensex, Nifty Touch New Highs; Information Technology Stocks In The Limelight

The benchmark indices have touched fresh highs on Wednesday afternoon, with the Nifty touching the 17,500 mark, led by gains in information technology stocks. At 1:40 pm, the Sensex was trading at 15,702, higher by 458 points or 0.79 per cent and the Nifty surpassing 17,500 to 17,513.50, up 133 points or 0.7 per cent. The broader markets are also trading strong, with the BSE Midcap index and the BSE Smallcap index adding 0.7 per cent each.

In the currency market, the rupee opened on a flat note and inched higher by 2 paise to 73.66 against the US dollar. At the interbank foreign exchange, the rupee opened at 73.68 against the dollar, then inched higher to 73.66.

On the stock-specific front, NTPC and Bharti Airtel have soared by 5 per cent each to top the gainers list on the BSE. Information technology stocks are also going strong, with HCL Tech, Infosys, TCS and Tech Mahindra gaining 1-3 per cent each on the BSE.

On the other hand, select financial stocks are trading weak. HDFC Bank, Axis Bank and Axis Bank are trading weak. 

Among stocks in the news, Shree Cement rose as much as 2.6 per cent to hit an intraday high of Rs 31,441.05 after the company announced capacity expansion plans in West Bengal and Rajasthan post market hours on Tuesday. 

Man Infra rose as much as 2.6 per cent to hit an intraday high of Rs 89.40 after the company informed exchanges that its subsidiary Man Infra Contracts, wherein the company holds 70 per cent partnership, was appointed as developer by Juhu Sai Darshan Co-Operative Housing Society at Juhu in Mumbai.

SpiceJet rose as much as 7.5 per cent to hit an intraday high of Rs 77.40 after the company announced flights on new domestic and international routes.