Sensex, Nifty hit new all-time high levels on gains in banking, IT shares

Sensex and Nifty recouped from early losses and settled at fresh record high levels in a volatile trade following buying in bank and select IT shares and gains in European markets.

Benchmark Sensex and Nifty recouped from early losses and settled at fresh record high levels in a volatile trade on Wednesday following buying in bank and select IT shares and gains in European markets.

The 30-share BSE Sensex jumped 408.86 points or 0.55% to settle at a new record high of 74,085.99. During the day, it went up by 474.14 points or 0.64% to hit an all-time high of 74,151.27.

The Nifty climbed 117.75 points or 0.53% to settle at a fresh closing peak of 22,474.05. During the day, it jumped 140.9 points or 0.63% to reach its record high of 22,497.20.

The benchmark indices traded lower in the first half of the session but early gains in European markets helped recoup losses in closed in the green.

Among the Sensex firms, Kotak Mahindra Bank, Axis Bank, Bharti Airtel, Sun Pharma, HCL Technologies, Mahindra & Mahindra, Titan and Tata Consultancy Services were the biggest gainers.

UltraTech Cement, NTPC, Maruti, JSW Steel, Power Grid and Tata Motors were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai settled lower while Hong Kong ended with gains.