The markets on Wednesday morning opened higher with Sensex at 63,612.83, up by 196.18 points and Nifty was at 18,875.15 with a gain of 57.75 points. State Bank of India, Tata Motors, Tata Steel, Titan and HDFC were the top gainers in the morning session, whereas Power Grid, UltraTech Cement, Axis Bank, Hindustan Unilever and Maruti were among the losers.
Nifty 50 index hit an all-time high of 18,908 in today's trading session and crossed its previous record high of 18,887.6, which it had made on December 1 last year. Sensex also hits record high and crosses earlier level of 63,601.70 on June 22.
Markets on Tuesday
Sensex jumped 446.03 points to the end of the day at 63,416.03 while Nifty closed at 18,819.45, up by 128.25 points. Nifty Financial Services added 1.37 per cent whereas realty, bank and PSU bank were up over one per cent.
US markets on Tuesday closed higher after seeing losses for two consecutive days as upbeat economic data calmed investors worried about an imminent recession. Dow Jones Industrial Average gained 212.03 points to 33,926.74, the S&P 500 rose 500 points to 4,378.41 and the Nasdaq Composite added 219.90 points at 13,555.67.
The Asian stock markets on Wednesday were mixed despite positive US markets. Singapore's SGX Nifty gained 56 points at 18,867 and Japan's Nikkei 225 jumped 216.09 points at 32,754.42. However, South Korea's KOSPI was at 2,565.42 with a drop of 15.97 points and Hong Kong's Hang Seng was at 19,088.65 with a jump of 59.48 points.
Oil prices on Wednesday morning were higher over worries about supply tightness in the US, after it fell on Tuesday on signals that the central bank may continue the cycle of rate hikes. Brent crude futures went up by 32 cents at $72.58 per barrel and US West Texas Intermediate crude was at $67.94 per barrel with a gain of 23 cents.
Indian rupee opened higher on Wednesday at 82 per dollar against Tuesday's close of 82.03.