BREAKING: Sensex and Nifty Trim Gains After Hitting Fresh Record Highs

Indian shares opened on a firm note on Wednesday, tracking cues from Wall Street where the major averages Dow and the S&P 500 recorded new all-time closing highs overnight.

U.S. stocks rallied on Tuesday, reacting to news about President-elect Joe Biden's transition to the White House. Encouraging reports about potential coronavirus vaccines too helped keep investor sentiment upbeat.

However, after an early strong uptick, the Indian market has pared some gains this morning with investors taking some profits at several counters.

Bank, metal, energy, and realty stocks are among the prominent gainers. A few top stocks from automobile space too have posted notable gains, while technology stocks are weak.

The benchmark BSE Sensex, which spurted to 44,825.37 in early trades, gaining more than 300 points in the process, is currently up 64.40 points or 0.14% at 44,587.42.

The National Stock Exchange's Nifty is up 20.90 points or 0.16% at 13,076.05, off a new all-time high of 13,145.85 it touched in early trades.

Oil and Natural Gas Corporation (ONGC) tops the list of Nifty gainers, rising nearly 4%. Housing Development Finance Corporation (HDFC) Life, State Bank of India (SBI) Life, Industrial Credit and Investment Corporation (ICICI) Bank, and Grasim Industries are gaining 2 to 3.1%.

State Bank of India, Jindal South West (JSW) Steel, Bajaj Auto, Hindalco, IndusInd Bank, Tata Steel, Shree Cement, GAIL India, HDFC Bank and Tata Motors are up 1 to 1.5%.

Technology shares Tech Mahindra, Infosys, HCL Technologies and Tata Consultancy Services are lower by 1 to 2%.

Bajaj Finance is declining by about 1.1%, while Nestle and Eicher Motors are both lower by about 1%.

Reliance Industries (RIL) is gaining about 0.75%. Alphabet Inc's Google will be paying the company nearly Rs 34,000 crore to acquire a 7.73% stake in RIL's digital subsidiary Jio Platforms Limited.

Reprinted from RTTNews，the copyright all reserved by the original author.