<p>Benchmark indices climbed in early trade on Wednesday, with the BSE Sensex hitting its life-time high of 63,588.31, amid buying in index majors HDFC twins and Reliance Industries.</p>.<p>The 30-share BSE Sensex climbed 146 points to 63,473.70 in early trade. The NSE Nifty advanced 37 points to 18,853.70.</p>.<p>Later, the BSE benchmark jumped 260.61 points to reach its all-time peak of 63,588.31. The benchmark reached the milestone after a gap of nearly seven months.</p>.<p>On December 1 last year, the Sensex hit its intra-day record peak of 63,583.07.</p>.<p>From the Sensex pack, Power Grid, UltraTech Cement, HDFC Bank, Wipro, HDFC, Hindustan Unilever, Larsen & Toubro, Tech Mahindra, Bajaj Finserv, Titan, Tata Consultancy Services, and Reliance Industries were the major gainers.</p>.<p>Tata Steel, NTPC, Tata Motors, ICICI Bank, and Asian Paints were among the laggards.</p>.<p>In Asian markets, Tokyo quoted in the green, while Seoul, Shanghai, and Hong Kong were trading lower.</p>.<p>The US markets ended lower on Tuesday.</p>.<p>Global oil benchmark Brent crude climbed 0.26 per cent to $76.09 a barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,942.62 crore on Tuesday, according to exchange data.</p>.<p>"It is important to understand that this is a global rally with most markets -- US, Euro Zone, Japan, South Korea, and Taiwan -- hovering around 52-week highs... Globally markets are bullish even when global growth is sluggish.</p>.<p>"The reason for this bullish trend is that the US recession, which markets had discounted last year, didn't happen and there are indications that the US might avoid a recession. So, markets are correcting the wrong discounting of last year," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.</p>.<p>The 30-share BSE benchmark settled higher by 159.40 points or 0.25 per cent at 63,327.70 on Tuesday. The Nifty advanced 61.25 points or 0.33 per cent to end at 18,816.70.</p>.<p>"All eyes will be on the US Federal Reserve Chairman's testimony before the US Congress later today," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.</p>
<p>Benchmark indices climbed in early trade on Wednesday, with the BSE Sensex hitting its life-time high of 63,588.31, amid buying in index majors HDFC twins and Reliance Industries.</p>.<p>The 30-share BSE Sensex climbed 146 points to 63,473.70 in early trade. The NSE Nifty advanced 37 points to 18,853.70.</p>.<p>Later, the BSE benchmark jumped 260.61 points to reach its all-time peak of 63,588.31. The benchmark reached the milestone after a gap of nearly seven months.</p>.<p>On December 1 last year, the Sensex hit its intra-day record peak of 63,583.07.</p>.<p>From the Sensex pack, Power Grid, UltraTech Cement, HDFC Bank, Wipro, HDFC, Hindustan Unilever, Larsen & Toubro, Tech Mahindra, Bajaj Finserv, Titan, Tata Consultancy Services, and Reliance Industries were the major gainers.</p>.<p>Tata Steel, NTPC, Tata Motors, ICICI Bank, and Asian Paints were among the laggards.</p>.<p>In Asian markets, Tokyo quoted in the green, while Seoul, Shanghai, and Hong Kong were trading lower.</p>.<p>The US markets ended lower on Tuesday.</p>.<p>Global oil benchmark Brent crude climbed 0.26 per cent to $76.09 a barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,942.62 crore on Tuesday, according to exchange data.</p>.<p>"It is important to understand that this is a global rally with most markets -- US, Euro Zone, Japan, South Korea, and Taiwan -- hovering around 52-week highs... Globally markets are bullish even when global growth is sluggish.</p>.<p>"The reason for this bullish trend is that the US recession, which markets had discounted last year, didn't happen and there are indications that the US might avoid a recession. So, markets are correcting the wrong discounting of last year," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.</p>.<p>The 30-share BSE benchmark settled higher by 159.40 points or 0.25 per cent at 63,327.70 on Tuesday. The Nifty advanced 61.25 points or 0.33 per cent to end at 18,816.70.</p>.<p>"All eyes will be on the US Federal Reserve Chairman's testimony before the US Congress later today," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.</p>