Nifty closes above 20K for first time

After a weak start, the markets rebounded well on Wednesday, with Nifty gaining 0.38% and closing above the 20000-mark for the first time, supported by softer inflation data and strong production numbers despite weak global cues.

- Ujval jauhari

While Nifty ended the day at the record closing high of 20070, Sensex, with gains of 0.38%, closed at 67466.99 and is inching close to its all-time high of 67619.17 seen in July. The mid- and small-caps, which had seen significant corrections on Tuesday, also ended with gains.

“Domestic equities cheered the robust macro data (strong IIP growth and lower inflation) which helped Nifty close above the 20000-mark for the first time," said Siddhartha Khemka, head of retail research, Motilal Oswal Financial Services Ltd.