INDIAN EQUITY BENCHMARKS SENSEX AND NIFTY WITNESSED RECORD HIGH LEVELS ON TODAY’S SESSION

Domestic Equity Market continued their post budget rally and clocked record closing high on Wednesday after a survey showed the country’s dominant services sector picked up in January as demand improved. Positive global cues and healthy FII buying also helped to please the investors sentiment.Net Buying of FII/FPI was Rs.2520.92 crore while net selling of DII was at Rs.399.74 crore. The Sensex ended 458.03 points, or 0.92 percent higher at a new closing high of 50,255.75 with stocks like IndusInd Bank, Powergrid Dr. Reddy, Sun Pharma, NTPC, Axis Bank, Titan ,Tech Mahindra were having gains of 7.65%, 6.28%, 3.71%, 3.29%, 3.13%, 2.79%,2.59%, 2.44% respectively while stocks like Ultratech Cement, Maruti, ITC, Kotak Bank, Asian Paint,Nestle India,TCS were the losers with a loss of 0.90%, 0.89%, 0.66%, 0.63%, 0.42%, 0.20% respectively. The Nifty rose 142.10 points, or 0.97 percent to its record close of 14,789.95 with sectors like Pharma, Metal, Energy, Bank, Auto Indexes with having gains of 2.79%, 1.68%, 1.60%, 1.43%, 1.04% respectively while Realty,FMCG Indexes were having loss of 0.43%, 0.14% respectively.

TOP STOCKS IN NEWSCAST:

IndusInd Bank rose over 7% after global brokerage Morgan Stanley raised target price on the stock by 14 per cent.

Dr. Reddy jumped over 6% as the company had partnered with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of the Sputnik V vaccine and for its distribution rights in India.

NTPC gained over 3% as NTPC- Simhadri will augment its production capacity by another 25 mw, by mid of this year, taking the total capacity to 2,025 MW.

Tech Mahindra surged over 2% as the company has announced a strategic partnership with RSA Scandinavia, one of the largest general insurer in the Nordics.