The Indian stock market’s benchmark Sensex reclaimed the 60,000 points mark for the first time in over four months, while the Nifty 50 soared to 17,940 points mark on Wednesday led by strong buying support in financial, IT and energy stocks.
The 30 stock S&P BSE Sensex was trading 396.94 points or 0.66 per cent higher at 60,239.15 points at 12.54 pm against its previous day’s close at 59,842.21 points.
The Sensex started the day in the positive at 59,938.05 points and soared past the psychologically important 60,000 points level in the morning session. The Sensex has crossed the 60,000 points mark level for the first time since April 5.
The broader Nifty 50 of the National Stock Exchange surged 115.70 points or 0.65 per cent to 17,940.95 points against its previous day’s close at 17,825.25 points.
Bajaj duo led the rally. Bajaj Finserv soared 5.78 per cent to Rs 16834.75. Bajaj Finance surged 4.19 per cent to Rs 7590.80.
Bharti Airtel soared 2.40 per cent to Rs 720.70. The scrip rallied after the company announced that it has paid Rs 8,312.4 crore to the Department of Telecommunications (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions.
Airtel has paid dues for 4 years ahead of schedule, the company said in a statement. “The company believes that this upfront payment coupled with the moratorium on spectrum dues and AGR-related payments for four years will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out,” the statement added.
There was strong buying support in IT stocks. Tech Mahindra surged 2.09 per cent to Rs 1100.40. HCL Technologies soared 1.62 per cent to Rs 974.50. Wipro, Infosys and TCS were also trading with significant gains.
The index heavyweight Reliance Industries Limited was trading 0.57 per cent higher at Rs 2665.70.
Only four of the 30 scrips that are part of the benchmark Sensex were trading in the red. Mahindra & Mahindra slipped 1.06 per cent to Rs 1274.75 a day after hitting a record high.
Maruti Suzuki, UltraTech Cement and Kotak Bank were also trading in the red.