Sensex Scales Record 56,000 Mark on Upbeat Cues, Slump in Covid Cases

Equity benchmark Sensex on Wednesday jumped over 250 points to scale the 56,000-mark for the first time, tracking gains in index majors HDFC twins and Reliance Industries amid a positive trend in Asian peers.

The 30-share index was trading 252.54 points or 0.40 per cent higher at its lifetime high of 56,044.81, while the broader NSE Nifty advanced 66.75 points or 0.40 per cent to record 16,681.35.

HDFC Bank was the top gainer in the Sensex pack, rising over 2 per cent, followed by UltraTech Cement, Bajaj Finance, PowerGrid, L&T, Bajaj Finserv and HDFC.

On the other hand, IndusInd Bank, Kotak Bank, Bajaj Auto and Infosys were among the laggards.

 “Domestic equities look to be good as of now. Lifting of the partial ban by the RBI to issue fresh credit cards is likely to aid heavyweight HDFC Bank and benchmark indices during the day,” said Binod Modi, Head of Strategy at Reliance Securities.

Meanwhile, the Union Health Ministry has declared that the number of active Covid-19 cases in the country has declined to 3,67,415. A single-day rise of 35,178 infections and 440 fatalities has pushed India's tally of cases to 3,22,85,857 and death toll to 4,32,519.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals.

However, equities in the US ended on a negative note in overnight trade.