Sensex Jumps Over 500 Points To Hit Fresh High; Nifty Above 18,150; Tata Group Stocks Shine

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.

Sensex Jumps Over 500 Points To Hit Fresh High; Nifty Above 18,150; Tata Group Stocks Shine

The market capitalisation of BSE-listed companies has touched a fresh high of Rs 271.11 lakh crore.

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 per cent to hit an all-time intraday high of 60,797 in late deals; while the broader NSE Nifty moved 179 points or 1 per cent 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 per cent.

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. BSE SmallCap and BSE Midcap climbed as much as 0.62 and 1.46 per cent respectively.

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 per cent.

Shares of Tata Motors soared as much as 23.35 per cent 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 per cent to Rs 230.55. Titan shares climbed 4.19 per cent to Rs 2,597.15 and Tata Chemical jumped as much as 15.79 per cent to Rs 1,124.05.

However, shares of IT major TCS remained muted by marginally slipping as much as 0.06 per cent 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.

Shares of Infosys moved 0.88 per cent higher to Rs 1,699.95. The IT major is scheduled to announced its second quarter results for the current financial year 2021-22 (FY22) post market hours.