• Source:JND
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Stock Market:  The benchmark BSE Sensex rose nearly 286 points to close at a record high, while the Nifty settled above the 24,950 level on Wednesday, extending its winning streak into the fourth day on the back of gains in select metals, energy, and auto stocks.

The 30-share BSE Sensex closed up 285.94 points or 0.35 percent at 81,741.34 (its all-time closing high), with 20 of its components advancing and 10 ending lower. The index opened higher and rose 372.64 points or 0.45 percent to hit an intra-day high of 81,828.04.

The NSE Nifty rose 93.85 points or 0.38 percent to close at a record high of 24,951.15. During the day, it rose 127.3 points or 0.51 percent. Positive global sentiment driven by expectations of an interest rate easing cycle by the US Federal Reserve and the Reserve Bank of India in the medium term, on the back of benign inflation, ignited the rally, it added.

As expected, the Bank of Japan raised its interest rate while all eyes are on the US Federal Reserve policy to be announced later in the evening.

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Among the Sensex stocks, Asian Paints, JSW Steel, NTPC, Maruti Suzuki India, Adani Ports and Special Economic Zone, Bharti Airtel, ITC, and Tech Mahindra were the top gainers. Reliance Industries, Tata Motors, Infosys, Mahindra and Mahindra, Bajaj Finance, and Axis Bank were the laggards.

European markets are trading in the green territory. Asian markets rose on Wednesday. Wall Street closed on a mixed note on Tuesday. Brent crude, the global oil benchmark, rose 1.88 percent to $80.51 a barrel. On Tuesday, foreign institutional investors offloaded shares worth Rs 5,598.64 crore, according to exchange data.

On Tuesday, the 30-share BSE Sensex index closed 99.56 points, or 0.12 percent, higher at 81,455.40, its all-time closing high. The NSE Nifty index rose 21.20 points to close at an all-time closing high of 24,857.30.

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(With PTI's Input)