Sensex, Nifty Hit Record High On Boost From Banking Stocks

Indian shares hit another record high on Wednesday led by a jump in banking stocks, as investor sentiment remained upbeat globally on U.S. President-elect Joe Biden’s White House transition and the prospect of imminent COVID-19 vaccines.

The NSE Nifty 50 index was up 0.59% at 13132.15 by 0400 GMT, while the S&P BSE Sensex was 0.56% higher at 44,771.29. Both indexes hit record highs.

HDFC Bank and ICICI Bank were the top two boosts to the Nifty 50.

The Nifty PSU banking index that tracks India’s state-owned lenders advanced 3.2%. State Bank of India rose 2%, while Bank of Baroda jumped 5%.