Almost after two and a half months, the BSE Sensex on Wednesday breached 51000-mark for the first time ever since March 12, 2021, while the Nifty50 Index is trading near its all-time high level above 15300. The all-time mark is 15341, which was hit on February 15, 2021. 

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The Indian markets have been surging for the third straight session this week. Both the benchmark indices grew by over half a per cent, Sensex was trading at 51058, up over 300 points at around 1:30 pm while Nifty at 15313, up around 100 points at around the same time. 

Bank Nifty is up 0.3e per cent at 34,786 on Wednesday. The index has recouped all intraday losses and surged higher. 

Of 50 scrips, 34 advances, whereas 15 declines during today’s trade. Bajaj Finserv, Grasim, Infosys, Bajaj Finance, and Wipro were the top five index gainers with each rising above two per cent. Metal stocks such as JSW Steel, Hindalco, Tata Steel decline most below two per cent today. 

The lift in the benchmark Indices mostly due to recovery in the banking and financial stocks. Indices such as Nifty Bank, Nifty PSU Bank, Nifty Private Bank and Nifty Financial Services, which were down at open are now trading flat but positive by around half a per cent. 

Nifty Realty becomes the top sectoral gainer with a rise of over two and a half per cent, led by Indiabulls Real Estate and Phoenix Limited each grew by over four and a half per cent. Similarly, Media and IT stocks too help the benchmark indices to post record-high intraday levels 

Meanwhile, Broader markets were trading mixed on Wednesday morning while India VIX was also inching higher, closing in on 19 levels.  

Global markets are stabilizing as Federal Reserve officials tried to soothe concerns about inflation. The 10-year bond yield in the US is cooling off from the highs of 1.69 and currently, it is at 1.59.