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Market Live: Sensex, Nifty Touch Record Highs Led By Auto, Energy Stocks…                     Yes, It’s Bull’s time !     

Sensex: 46592            Nifty:13666

Stock Market Live: Indian indices opened at record highs on Wednesday tracking Asian stocks rose as hopes of effective coronavirus vaccines and the growing prospect of more U.S. fiscal stimulus cheered investors.

Domestic stock markets started Wednesday’s session at record highs, continuing a broader rally fulled by optimism around COVID-19 vaccines and foreign fund inflow, amid gains across Asian equities on hopes of more US fiscal stimulus. The S&P BSE Sensex index jumped 328.87 points, or 0.71 per cent, to touch 46,592.04 at the strongest level of the day, and the broader NSE Nifty 50 benchmark climbed to as high as 13,666.45, up 98.60 points from its previous close — both all-time highs. Gains across automobile, energy and metal shares supported the up move.

At 9:16 am, the Sensex traded 283.48 points, or 0.61 per cent, higher at 46,546.65, while the Nifty was up 81.70 points, or 0.60 per cent, at 13,649.50.

Top gainers in the Nifty basket of 50 shares at the time were Mahindra & Mahindra, Bajaj Finance, ONGC, Tata Motors and UPL, trading between 1.29 per cent and 3.17 per cent higher, On the other hand, HCL Tech, GAIL, Bharti Airtel and Dr Reddy’s, down 0.18-0.37 per cent each, were the top laggards in the index.

HDFC, HDFC Bank, Reliance Industries and Mahindra & Mahindra were the biggest boosts for Sensex.

Shares elsewhere in Asia hovered near record highs, with MSCI’s broadest index of Asia Pacific shares outside of Japan trading 0.60 per cent higher at the last count, following two straight days of losses. The index was on track for its best yearly performance since 2017 thanks to generous government and central bank stimulus around the world.

The E-Mini S&P 500 futures traded 0.10 per cent lower, suggesting a lackluster start for US markets on Wednesday, a day after the three US benchmarks ended more than 1 per cent higher each.

Optimism over a $1.4-trillion US spending package increased after House of Representatives Speaker Nancy Plosi invited other top congressional leaders to meet late on Tuesday to hammer out a deal to be enacted this week.

Markets will now look to the Federal Reserve for new projections on whether the economy will suffer a double-dip recession or is on the cusp of a vaccine-inspired boom. The US central bank is to release a statement later in the day, with analysts expecting some guidance on when and how it might change its bond purchases.

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