Sensex, Nifty Reach New Highs On FII Flows

(RTTNews) - Indian shares rose on Wednesday to reach new highs, with investor sentiment buoyed by falling oil prices and declining bond yields.

A strong mandate for the ruling party at the Centre in the recently concluded state elections also raised expectations of political stability and improved GDP growth.

The benchmark S&P BSE Sensex rose 357.59 points, or 0.52 percent, to 69,653.73, closing at a new record high for a third consecutive session on the back of strong institutional flows.

The broader NSE Nifty index also closed at a record high of 20,937.70, up82.60 points, or 0.40 percent, from its previous close.

IT stocks topped the gainers list, with TCS, LTIMindTree and Wipro surging 2-4 percent on the back of declining global bond yields. Larsen & Toubro and ITC both rose over 2 percent.

Sterling & Wilson Renewable Energy hit the 5 percent upper circuit limit after reports that it may launch a Rs. 1.500-crore QIP issue by next week.

Hindustan Aeronautics, the maker of the twin seater lights combat aircraft Tejas, jumped 6.8 percent ahead of the two-day HAL Avionics Expo-2023 in New Delhi.