The Nifty 50 was trading 121 points higher at 21,574.10, while the S&P BSE Sensex reached a record high of 71,868.17 in pre-open trade and was up 405.45 points at 71,842.64 at 9:35 am. It should be mentioned that during pre-open hours, the Nifty 50 also reached an all-time high of 21,577.70.
Wednesday saw benchmark stock market indices reach new all-time highs, continuing their upward trend that had been interrupted by a brief period of uncertainty during the previous two trading sessions.
The dominant market indices kept up their winning streak as well; early trading saw respectable gains for the midcaps and small-caps.
Among sectoral indices, Nifty IT was the largest driver, rising by almost 1.5 percent. Nifty FMCG saw a nearly 1% increase as well. The strong opening of other heavyweight indices, like Nifty Bank and Financial Services, served as fodder for the Dalal Street bull run.
LTIM, TCS, Wipro, Eicher Motors, and Infosys were the top five gainers on the Nifty 50. Conversely, M&M, Sun Pharma, Coal India, Axis Bank, and Bharti Airtel were the biggest losers.
The benchmark Sensex and Nifty indices are likely to open higher on December 20 as trends in the GIFT Nifty indicate a positive start for the broader index with an 80-point gain, said Deven Mehata, research analyst at Choice Broking, ahead of market opening.
With the global market continuing to rise, and the Dow up for the eighth trading session in a row, Indian markets are set to open with a gap up. Traders should buy the dips with a strict closing stop loss of 21350. Long-term investors should hold their positions with the indicated trailing stop loss, he adds.
