Sensex soars over 500 points, and Nifty reaches a record high.

Sensex soars over 500 points, and Nifty reaches a record high.
Focus is on US Fed rate decision and retail inflation statistics.
Top Nifty50 gainers include Tata Motors, BPCL, Coal India, and Bajaj Finance.
The opening of Wednesday's trading session saw benchmark stock market indices rise, supported by increases in IT and banking equities.

As investors continued to be upbeat about India's economic growth under Modi 3.0, the S&P BSE jumped almost 500 points, and the NSE Nifty reached a new record high of 23,441.95 after rising 170 points.

At 11:00 am, the NSE Nifty50 gained 160.15 points to trade at 23,425 while the S&P BSE Sensex increased 524.83 points to 76,981.42.

As volatility continued to decline during the session, other wider market indices also saw gains.

Nifty Media was the largest gainer among sectoral indices, with high-weightage Nifty Bank, Nifty IT, and Nifty Financials up roughly 0.8%.

On the Nifty50, Coal India, Tata Motors, BPCL, Bajaj Finance, and LTIM were the top gainers.

However, Britannia, Titan, Asian Paints, HUL, and Nestle India were the biggest losers.
Senior VP (Research) Prashanth Tapse of Mehta Equities Ltd. stated: "Bearishness in several Asian indices is likely to result in a muted to weak opening for local markets." In light of the CPI inflation and IIP statistics that will be released after market hours today, domestic investors may exercise caution, which could lead to further stock-specific action."

"Also, the May US inflation data and rate-setting decision would be keenly watched by global investors, as any increase in the number could prompt the Federal Reserve to delay its rate cut decision," he stated.

"The 32% decline in India VIX during the last 5 days indicates that the days of heightened volatility are over and the market has entered a consolidation phase," stated Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The emphasis will now be on news flows and fundamentals."

Investors and speculators have been pursuing momentum stocks with low floating stock and exorbitant valuations in recent times. Investors should steer clear of this dangerous move," he said.

Investors want to concentrate on reasonably priced, high-quality growth stocks. Here, finances are most important. In the medium to long term, this market segment has the potential to provide respectable returns. IT equities are likewise comfortably valued.