Indian markets climbed to new record highs on Wednesday, posting strong gains in Asian indices.
The S&P BSE Sensex was up 240 points, or 0.5 percent, to 46,500 levels. The index reached an intra-day high of 46,592. The larger Nifty50, meanwhile, passed the 13,650 mark. Mahindra & Mahindra was up 3% and was the top Sensex gainer after claiming it will raise the prices of its full range of passenger and commercial vehicles starting next month. Furthermore, ONGC (+ 2%), Asian Paints, Bajaj Finance and Tata Steel (all + 1%) were the other top gainers.
All Nifty sector indices, with the exception of the Nifty PSU Bank Index, were doing strong, led by the Nifty Metal Index, up 1%.
In broader markets, both the S&P BSE MidCap and SmallCap indices recorded an increase of half a percentage point.