Indian equities posted modest gains on Wednesday, with investors anticipating the release of industrial output and inflation data later in the day.
The rupee remained steady, while global market indicators were mixed as traders awaited U.S. inflation figures and the Federal Reserve’s interest rate decision, both expected to shed light on the Fed's future rate trajectory.
The benchmark BSE Sensex rose to a high of 77,050 before ending the session up by 149.98 points, or 0.20%, at 76,606.57.
Meanwhile, the broader NSE Nifty index reached a new record high of 23,442 before closing at 23,322.95, up by 58.10 points, or 0.25%.
Key gainers included Tech Mahindra, SBI Life, Eicher Motor, Power Grid Corp, and Coal India, which saw increases of 2-3%. Conversely, Tata Consumer Products, Hindustan Unilever, Britannia Industries, and Mahindra & Mahindra each fell by approximately 1%.
Federal Bank saw a 3.5% rally amid speculation surrounding the appointment of a new Managing Director and CEO.
Trident surged by 8.1% following its subsidiary Trident Home Textiles' acquisition of an additional stake in a step-down subsidiary.
Reliance Power soared by 10% after announcing it had achieved debt-free status on a standalone basis.
TVS Supply Chain Solutions climbed 5% on news of signing a five-year strategic contract with Daimler Truck Southeast Asia.
