Sensex, Nifty open to new record highs led by IT, consumer stocks power

Market on Wednesday witnessed a surge to reach new record highs, primarily propelled by the robust performance of consumer and information technology stocks.

As of 9:15 am, the NSE Nifty 50 exhibited a noteworthy increase of 0.52%, reaching 21,565.75 points, while the S&P BSE Sensex also experienced a rise of 0.54%, reaching 71,817.11.

The 30-share BSE Sensex jumped 475.88 points to 71,913.07 — its all-time peak — in early trade. The Nifty climbed 138.8 points to reach its record high of 21,591.90.

Among the Sensex firms, Wipro, Infosys, Tata Consultancy Services, Reliance Industries, Tech Mahindra, NTPC and HDFC Bank were the major gainers.

Mahindra & Mahindra, Maruti, Axis Bank and Hindustan Unilever were among the laggards.

In Asian markets, Seoul, Tokyo and Hong Kong quoted in the positive territory while Shanghai traded lower.

The US markets ended in the green on Tuesday.

One standout performer during early trading was Varun Beverages, the Indian bottler for Pepsi, whose shares soared by an impressive 17.8%. This surge followed the company's announcement of its intention to acquire South Africa's The Beverage Company in a deal valued at Rs 13.2 billion, contributing to the positive market momentum.

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