Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
The central bank has lowered its policy rate twice so far in 2015.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Among food articles, vegetable prices surged by 69.69 per cent mainly on account of onion, which witnessed 455.83 per cent jump in prices, followed by potato at 44.97 per cent.
'My immediate objective is to start thinking about research once again. Start understanding the world we are in which has changed quite a bit.'
Analysts say there is still no visibility of earnings improvement.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Broader gains were capped as investors awaited corporate results from major firms
The Sensex posted its biggest single-day jump in over a decade at 1,921 points and investors' wealth soared by a staggering Rs 6.8 lakh crore after Finance Minister Nirmala Sitharaman delivered a surprise cut in corporate tax rates on Friday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
A section of analysts feel now may not be a bad time to buy select PSBs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
Finance Minister expects rate cut by RBI.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
India's state banks are under pressure to improve profitability.
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
But, neither were the big companies interested in growing inorganically nor were the smaller ones ready to offer themselves for sale.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
Analysts, however, said the timing of the infusion was good.
MFs have garnered record assets in the past one year, led by increased investor participation through SIPs and robust returns in mid-cap schemes.
The Sensex took just five trading sessions to surpass the 36,000-level milestone, from 35,000.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
IndiGo's share sale will raise the company's retained earnings to Rs 2,680 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
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