Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, continued to scale new highs in trade on Wednesday. While BSE Sensex crossed 78,500, Nifty50 was above 23,800. At 12:27 PM, BSE Sensex was trading at 78,569.21, up 516 points or 0.66%. Nifty50 was at 23,856.05, up 135 points or 0.57%. The stock market rally was driven by sustained buying in heavyweight stocks such as Reliance Industries (RIL), UltraTech Cement, ICICI Bank, and Kotak Mahindra Bank.

The top Sensex gainers at this hour are UltaTech Cement, RIL, Maruti Suzuki, Kotak Bank, Bharti Airtel, Nestle India, ICICI Bank and HUL. The top Sensex losers are Tata Steel, M&M, Titan, JSW Steel, HDFC Bank.

Smallcaps, midcaps, and microcap indices outperformed the broader market, while sectors such as auto, metals, pharma, and realty remained in the red.
Technical analysts anticipate Nifty’s key support level at 23,591, with resistance at the 24,000 mark. “Nifty has indicated a series of strong positive candles formation on the daily chart to breach above the resistance zone of 23650 levels and with a breakout confirmed has strengthened the bias and sentiment to anticipate for further rise in the coming sessions. With the RSI on the rise and getting better, the Index has near-term target of 23800 levels and thereafter, can scale 24500 zone with strength sustaining,” Prabhudas Lilladher told ET.