Capital market continued to rally with the Sensex hitting another new high with a gain of 120.55 points.

The benchmark index opened on a positive note at 27,128 against 27,019 recorded on Tuesday. It touched a day’s high of 27,226 and low of 27,067 before closing at 27,140. Turnover was up at Rs 3,619 crore against Rs 3,355 crore logged in on Tuesday.

In NSE, Nifty was up 32 points at 8,115.

The market rally was largely led by the IT stocks which were in demand after upbeat US economic data. L&T gained one per cent to Rs 1,598 after it commissioned the world's largest solar photovoltaic plant in Amritsar, Punjab.

Tata Power Company gained rose one per cent to Rs 90 after the company during market hours said that its wholly owned subsidiary Bhira Investments has redeemed $450 million fixed to floating rate subordinated notes on Tuesday. The redemption has been financed by way of loans raised by Bhira for this specific purpose, Tata Power said in a statement.

Sesa Sterlite rose one per cent to Rs 280. The company after market hours on Tuesday, said that its board of directors will meet on Friday to consider enabling approval for raising of funds through issue of securities including convertible debentures, bonds, warrants, NCDs.

Major gainers were Oberoi Realty (15%), Eicher Motors (8%), Godrej Consumer Products (7%), Castrol India (6%), HDIL (5%), UPL (5%), Bhushan Steel (5%), Piramal Enterprises (5%) and JSW Energy (5%).

Prominent losers were JP Associates (-3%), Nalco (-3%), JP Power (-2%), Adani Power (-2%) and Bharat Electronics (-2%).

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