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Sensex crossed 54,000 and Nifty crosses 16,200 for the first time

By Ruchi Upadhyay 
Updated Date

Mumbai: The domestic stock market created a new history on Wednesday amid a positive trend in global markets. Leading stock index Sensex climbed over 400 points to cross the 54,000 level for the first time in early trade on Wednesday, led by gains in big stocks like Infosys, HDFC and ICICI Bank. During this period, the 30-share index was trading 415.33 points or 0.77 per cent higher at 54,238.69 after touching an all-time high of 54,256.13.

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Similarly, the broader NSE Nifty rose 116.10 points or 0.72 per cent to hit a high of 16,246.85. Tata Steel was the top gainer in the Sensex with a gain of nearly two per cent. Apart from this, HDFC, ICICI Bank, Dr Reddy’s, Infosys, Reliance Industries and HDFC Bank were also among the gainers. On the other hand, Bharti Airtel, Nestle India, SBI, HUL and UltraTech Cement were trading in the red.

In the previous session, the Sensex closed 872.73 points or 1.65 per cent higher at 53,823.36, and the Nifty rose 245.60 points or 1.55 per cent to 16,130.75. Foreign institutional investors (FIIs) bought shares worth Rs 2,116.60 crore on a gross basis on Tuesday, according to provisional data from the stock market. Meanwhile, international oil benchmark Brent crude was up 0.11 per cent at $72.49 per barrel.

Devyani International, Windlas Biotech, Exxaro Tiles and the initial public offering of Krsnaa Diagnostics will be open for subscription today. The primary market has been on fire in recent weeks and investors are lining up in droves to bid on public issues. While Devayni International seeks to increase the crore to Rs 1,838; Windlas Biotech will increase the crore to Rs 401; Krsnaa Diagnostics will increase Rs 1,213 crore, and Exxaro Tiles will only increase Rs 161 crore. All IPOs are a mix of an offer to sell by existing shareholders and a new issue of shares. All four IPOs will remain open for subscription until the end of this week.

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