Nifty, Sensex hit new life peaks, Nifty cracks past 18,900 mark, metals shine

Investing.com — Indian market indices made a higher opening on Wednesday following a strong rebound on Wall Street in the overnight session on the back of upbeat economic data and continued to rise in morning trade. 

The benchmark index recorded a new all-time high on Wednesday and surpassed the 18,900 mark at 18,908.15 points, while the 30-scrip also hit a new peak of 63,716 points in the session.

At 00:49 ET (04:49 GMT), headliner Nifty gained 0.4% to 18,891.1 levels and Sensex added 226.1 points or 0.36%. The market fear barometer rose 2.5% to 11.05 levels in the session.

Barring , all sectoral indices listed under the Nifty umbrella traded in the green on Wednesday, led by a sharp 1.3% uptick in , while advanced 0.2%.

In a note provided to Investing.com, Dr. V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, points out that the high market valuation continues to be a concern for the near-term, and advises that investors could book some profits at record highs.

Metal stocks led the rally on the Nifty pack, with the heavyweight Adani Enterprises’ (NS:) stock jumping 5%, while JSW Steel (NS:) and Adani Ports (NS:) gained 2% in the morning trade. On the flip side, banking and financial stocks exerted pressure on Dalal Street, as HDFC Life (NS:), Kotak Mahindra (NS:), Axis Bank (NS:), and ICICI Bank (NS:) shed the most on the benchmarks.