New Delhi: Equity indices continued to hit record highs on Wednesday led by gains in Tata Group stocks. The benchmark BSE Sensex jumped 512 points or 0.85% to hit an all-time intraday high of 60,797 in late deals; while the broader NSE Nifty moved 179 points or 1% higher to 18,171.
Top gainers in the BSE pack included Mahindra and Mahindra, Titan, PowerGrid, Tata Steel, Larsen and Toubro and Sun Pharma with their shares rising as much as 6.80%.
The market capitalisation or m-cap of BSE-listed companies has touched a fresh high of Rs 271.11 lakh crore.
Out of the 3,425 stocks traded on BSE, 1,816 advanced, 1,457 declined and 150 were unchanged in late deals.
On the NSE platform, except for Nifty Realty, all other sub-indices were trading in green with Nifty Auto outperforming the index by gaining 4.16%.
Shares of Tata Motors soared as much as 23.35% to Rs 519.10. Arun Agarwal, Deputy Vice President – Fundamental Research, Kotak Securities Ltd, said, “The TPG group will invest Rs 7,500 crore in Tata Motors EV subsidiary and the newly formed subsidiary will invest in expanding product offerings. Tata Motors will aggressively launch new products in EV space over the next five years.”
Tata Power stock zoomed as much as 17.75% to Rs 230.55. Titan shares also climbed 4.19% to Rs 2,597.15.
However, shares of IT major TCS remained muted by marginally slipping as much as 0.06% to Rs 3,650.55.
Investor sentiment also got a boost from the macro-economic data. The country’s retail inflation eased to a five-month low in September, data released on Tuesday showed.
Airline stocks also surged after the government allowed domestic flights to operate at full capacity.