Sensex surges over 250 pts to scale 56K for first time; HDFC Bank up 2 per cent

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Equity benchmark Sensex on Wednesday jumped over 250 points to scale the 56,000-mark for the first time, tracking gains in index majors HDFC twins and Reliance Industries amid a positive trend in Asian peers. The 30-share index was trading 252.54 points or 0.40 per cent higher at its lifetime high of 56,044.81, while the broader NSE Nifty advanced 66.75 points or 0.40 per cent to record 16,681.35.

HDFC Bank was the top gainer in the Sensex pack, rising over 2 per cent, followed by UltraTech Cement, Bajaj Finance, PowerGrid, L&T, Bajaj Finserv and HDFC. On the other hand, IndusInd Bank, Kotak Bank, Bajaj Auto and Infosys were among the laggards. In the previous session, Sensex settled 209.69 points or 0.38 per cent higher at a new closing record of 55,792.27, and Nifty rose 51.55 points or 0.31 per cent to a new closing high of 16,614.60.

Also read: Sensex drops 126.19 pts to 55,456.39 in opening session; Nifty slips 34.95 pts

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 343.73 crore on Tuesday, as per provisional exchange data. 'Domestic equities look to be good as of now. Lifting of the partial ban by the RBI to issue fresh credit cards is likely to aid heavyweight HDFC Bank and benchmark indices during the day,' said Binod Modi Head-Strategy at Reliance Securities.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals. However, equities in the US ended on a negative note in overnight trade. Meanwhile, international oil benchmark Brent crude rose 0.25 per cent to USD 69.20 per barrel.

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