Indian shares hit record closes on Wednesday as gains in banking and IT stocks offset losses in the energy and materials sectors. State-run lenders rose after a government spokesperson said on Twitter that India would soon unveil details of its bank recapitalisation plan.
The broader NSE index closed up 0.02 percent at 11,086 while the benchmark BSE index ended 0.06 percent higher at 36,161.64. Both indexes posted record closes for the sixth straight session. The Nifty IT index rose as much as 3.9 percent to hit a record high and was set to post its seventh session of gains. Infosys contributed the most to the rise, climbing as much as 3.7 percent.
The Nifty Pharma index rose for a fourth consecutive session, climbing as much as 0.5 percent. Meanwhile, investors booked profits in market heavyweights such as Reliance Industries Ltd, which fell as much as 2.1 percent after gaining in the last three sessions. ICICI Bank Ltd fell 2.6 percent, after rising in seven of the last eight sessions.
Bharti Airtel led losses on the NSE index, falling as much as 6.2 percent. Idea Cellular Ltd fell as much as 5.7 percent while Reliance Communications Ltd slipped over 2 percent. Indiabulls Housing Finance Ltd rose 2.2 percent while PNB Housing Finance Ltd climbed 2.9 percent after posting strong third-quarter results.
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