Sensex gained 104 points on Wednesday backed by huge foreign fund flows and positive investment climate building up.

The benchmark index opened on the positive note at 28,843 against the previous close of 28,785. It made a high of 28,958 and low of 28,793 before closing at 28,889. Turnover on BSE was up at ₹4,479 crore against ₹3,295 crore recorded on Tuesday.

In NSE, Nifty 34 points at 8,729.

The recent repo rate cut by the Reserve Bank of India has buoyed investors’ sentiments leading to foreign portfolio investors buying shares worth ₹4,500 crore in last four trading sessions. FPIs bought shares worth ₹1,276 crore on Tuesday, as per provisional data.

The RBI Governor has also hinted of further rate cuts in future with the sharp fall in crude prices easing worries on inflation.

The S&P BSE Sensex has rallied over 1,600 points since the last RBI rate cut to touch its fresh record high of 28,958 on Wednesday and is inching closer to next crucial psychological level of 30,000.

Shares of index heavyweight and cigarette major ITC dropped five per cent to ₹353 after the company reported that its total income was up 2.47 per cent to ₹8,943 crore while net profit rose 10.46 per cent to ₹2,635 crore.

Major gainers of the day include Jubilant (9%), Tata Elxsi (9%), Muthoot Finance (7%), Corporation Bank (6%), Kajaria Ceramics (5%), Hindustan Unilever (5%), Hexaware (5%), and Ashok Leyland (5%).

Prominent losers were Natco Pharma (-6%), GDL (-6%), Rallis India (5%), Rasoya (-5%), and Bayer Crop Science (5%).

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