Indian indices opened at record highs on Wednesday, trading modest gains in Asian peers, mainly led by heavyweights Bharti Airtel, RIL, HDFC twins and ICICI Bank. The Sensex rose as much as 259 points to its new high of 49,776 while the Nifty gained 82 points to its all-time high of 14,645.

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At 9:15 am, the Sensex opened 246.82 points higher at 49,763.93, while the Nifty50 index opened at 14,639.80, up 76.35 points.

Broader markets were also trading higher with the midcap and smallcap indices up between 0.5 percent and 1 percent.

Among sectors, all indices witnessed buying in the opening deals with auto and metal indices gaining the most, up 1 percent.

Bharti Airtel was the top gainer in the Sensex pack, rallying around 4 percent, followed by ONGC, SBI, ICICI Bank, M&M, NTPC, L&T and Axis Bank. On the other hand, Titan, Kotak Bank, Dr Reddy’s, TCS and HCL Tech were among the laggards.

According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities continue to look firm and resilient. The contraction in IIP data indicates more measures by the Finance Minister in the Budget to stimulate economic activities. Similarly, better than anticipated softening in CPI data for December 2020 negates the looming concerns over low-interest-rate scenarios, he stated.

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First Published:Jan 13, 2021 9:24 AM IST