Stock market: Sensex up, Nifty hits all time high of 15,792

The two domestic indices of the Indian stock market- BSE Sensex and Nifty 50 were trading in green on Wednesday. The NSE’s Nifty hit an all-time high of 15,792 points after while the BSE Sensex surged to 52,400.  The India VIX, a volatility index based on Nifty, was down by 2.3% in early trading on Wednesday.

The 30 share index of the BSE, Sensex rose by 124.49 points or 0.24% on Wednesday to reach 52,400 points. Power Grid, ONGC, HCL Technologies, NTPC, etc. were among the top gainers of the day. On the other hand, ICICI Bank, Axis Bank, L&T and Reliance Industries pulled the Sensex down.

The Nifty 50, a fifty share index of the NSE, surged to an all-time high by reaching 15,792 points. Sectoral speaking, most of the sectors witnessed gains with Power, Reality and PSU Bank increasing by 1% each.

In a piece of important news for investors of DHFL, the company’s stock hit the lower circuit to trade at Rs 20.60/share on Wednesday. The company is going to be delisted soon but had been in high demand among investors on Tuesday.

Midcap and small-cap stocks, some with an unproven track record,  witnessed an increase in prices. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, several retail investors are “overdoing” the unlock trade.

Meanwhile, gold prices increased marginally in the country due to a fall in US bond yields.

The World Bank had on Tuesday, revised its projections for GDP growth in India from 10.1% to 8.3% for the financial year 2021-22. In its report, the World Bank had said, “India’s recovery is being hampered by the largest outbreak of any country since the beginning of the pandemic.”

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