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The breakout has also prompted several short-coverings and triggered buying in banking stocks Shares hit record highs on Wednesday, led by financial and metals sectors, as the blue-chip Nifty 50 index s break above the key psychological 16,000-level brought fresh impetus into the market and boosted investor sentiment. By 1:10 pm, the NSE Nifty 50 index climbed 0.57 per cent to 16,222.60 and the benchmark S&P BSE Sensex rose 0.77 per cent to 54,236.89. The momentum that has come after a clean break of 16,000-mark seems to have brought in or at least attracted fresh buyers. We have broken a month-long excruciatingly tight range of 400 points, said Anand James, chief market strategist at Geojit Financial Services.

Anand jamesBharti airtel ltdGeojit financial servicesNifty bankEconomic zone ltdNifty financial services indexGeojit financialSpecial economic zone ltdஆனந்த் ஜேம்ஸ்பாரதி ஏர்டெல் லிமிடெட்ஜியோஜித் நிதி சேவைகள்நிஃப்டி வங்கிபொருளாதார ஸோந் லிமிடெட்நிஃப்டி நிதி சேவைகள் குறியீட்டுஜியோஜித் நிதிசிறப்பு பொருளாதார ஸோந் லிமிடெட்