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Vodafone Idea completely stole the spotlight during the session. The telecom player buzzed the most after the relief package, followed by other peers who will also benefit from the relief. Banking stocks were also on the radar.

The diamond hands (meme slang for long-term investors) stormed Twitter and every other social media outlet to express their joy as shares of ITC jumped nearly 7 per cent today. The stock is one of the most widely held among retail investors, who own over 12 per cent stake in it.

It was the second session when Nifty50 ended up forming a bullish candle on the daily chart, suggesting strength. Analysts said the index seems to be headed for the 17,700-17,900 levels.

The Nifty Realty index was trading 0.13 per cent up at 423.25.

“Proxy advisers have really made a big difference to how people look at raising a protest because they have readymade stuff in terms of the data being analysed into more digestible form. Proxy advisers are able to focus their attention, analyse it and put it out there for the institutional and retail investors. ”

Equity investors grew richer by Rs 1.10 lakh crore, as their total wealth represented by BSE market capitalisation rose to Rs 260.78 lakh crore. India on Wednesday surpassed France’s market cap.

"This is a very euphoric market where one sector or the other picks up every day and that is happening. It is very tough to read anything more into ITC moving up by 7%."

Sensex completed its journey from 57,000 to 58,000 in three days (August 31-September 3) and took eight more sessions (September 3-September 16) to scale 59,000.

Nifty50 formed a bullish candle on the daily scale and has been forming higher highs since the last three sessions.

“The PLI scheme will create modern value chain for auto industry. This policy is trying to break this cycle of localisation happening only when there is volume and volume happening only when the cost of acquisition is coming down. So the new policy would accelerate the EV industry.”