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Indian equities ended higher for the third straight day but witnessed some pressure at higher levels. Benchmarks continued their best rally in 10 months.
The S&P BSE Sensex ended 0.9% higher at 50,255 while the NSE Nifty 50 index ended 1% higher at 14,789. The Sensex closed 270 points while the Nifty fell 80 points from their respective day's high.
Among the sectoral indices, the Nifty Pharma index was the top performer in today's session, ending 2.8% higher, after gaining as much as 4% in early trade. The PSU Bank index was also on-par with the Pharma index, ending with gains of 2.6%.
The Nifty Metal index gained 1.7% while the I.T. and Auto indices gained 1% each.
The FMCG index was the underperformer in today's session, ending with a negative bias.
Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index ended 1.4% higher while the Smallcap index gained 1.2% in today's session.
The India Volatility Index ended 1.7% higher at 23.7.
1,165 stocks on the NSE ended with gains while 703 stocks posted losses.
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Indian equities opened higher for the third straight day, even as sentiment across the Asia-Pacific is mixed. Investors are taking cues from the risk-on sentiment witnessed overnight on Wall Street.
The S&P BSE Sensex surpassed its previous record high of 50,184 to open 0.9% higher at 50,231. The NSE Nifty 50 index has opened exactly at its previous record high of 14,754, with gains of 0.7%. Both benchmarks lodged their best two-day rally in 10 months on Tuesday.
Among sectoral indices, the Nifty Auto index opened 1.1% higher and was the best performing sectoral index at the start of trade.
The Nifty Bank and Nifty Pharma index gained 0.8% each while FMCG and PSU Bank indices gained 0.6% each in early trade.
The Nifty Metal index was the underperformer as trading begun, little changed from Tuesday's levels.
Broader markets have opened in-line with the benchmark indices. The Nifty Midcap and Small cap indices have both opened with gains of 0.7% each.
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