Key domestic benchmark indices closed at their record highs, with the Sensex closing above the crucial 30,000-mark for the first time while Nifty, too, closed at a record high, underpinned by strong global market cues.
The BSE 30-share Sensex opened on a strong footing and surged to a lifetime high of 30,167.09 points in intra-day trade, before settling at 30,133.35, up 190.11 points, or 0.63 percent over its previous close. This surpassed its previous record close of 29,974.24, reached on 5 April.
The gauge had hit its previous intra-day high of 30,024.74 on 4 March 4, 2015.
The Sensex has gained 768.05 points or 2.62 percent in three days.
Similarly, the broader 50-issue NSE Nifty scaled a new peak of 9,367 before finally ending 45.25 points, or 0.49 per cent higher at 9,351.85, a new record closing. It surpassed its previous record closing of 9,306.60 hit in yesterday's trade.
Among the gainers, Sensex heavyweights ITC rose 3.4 percent, M&M jumped 3.3 percent, HDFC moved up 2.4 percent, Hindustan Unilever gained 1.8 percent and ICICI Bank was up 1.6 percent.
Surprisingly, market breadth ended weak, indicating the rally may be losing its steam.
Of the 3,045 stocks traded, 952 stocks advanced, 1,954 declined and 139 remained unchanged on BSE.
Similarly, the broader 50-issue NSE Nifty scaled a new high of 9,367 before finally settling 45.25 points, or 0.49 per cent higher at 9,351.85, a new record closing.
Its previous closing high of 9,306.60 was hit in yesterday's trade. It also broke the previous intra-day record of 9,309.20.
"Market has made a higher high on account of rising global optimism due to ease in political risk in Eurozone and expectation of tax reform in the US. "Volatility emerged during the late hours due to profit booking but short covering ahead the expiry navigated the direction back to north. Optimism on earnings and continued buying by local investors is directing the recent rally in the market," said Vinod Nair, Head of Research, Geojit Financial Services.
The rupee strengthened past the 64-mark to a near 21-month high of 63.93 (intra-day) against the dollar, which added to the momentum.
Meanwhile, foreign portfolio investors (FPIs) and domestic institutional investors bought shares worth a net Rs 178.82 crore and Rs 998.26 crore respectively yesterday, as per provisional data from the stock exchanges.
Overseas, Asian indices ended higher following overnight rally in US stocks on strong earnings announcements and expectations surrounding US President Donald Trump's impending tax reforms.
Tokyo's Nikkei ended up 1.1 per cent, while Hong Kong's Hang Seng rose 0.5 per cent, its fifth straight day of gains. Shanghai Composite Index edged up 0.2 per cent.
Key indices in Europe, however, were mixed in their morning deals, with Paris CAC 40 rising 0.1 percent, London's FTSE slipping 0.06 percent and and Frankfurt's DAX 30 declining 0.03 percent.
Back home, of the 30-share Sensex pack, 18 scrips ended higher while 12 closed lower.
Major gainers were ITC 3.36 percent, M&M 3.29 percent, HDFC 2.36 percent, HUL 1.78 percent, ICICI Bank 1.61 percent, Tata Motors 1.17 percent, Bharti Airtel 1.14 percent, Maruti 0.88 percent, HDFC Bank 0.73 percent and Asian Paints 0.73 percent.
However, Adani Ports fell 2.31 percent, Infosys 1.61 percent, Dr Reddy's 1.31 percent, Power Grid 1.30 percent, Reliance Industries 1.13 percent, Wipro 0.80 percent and ONGC 0.66 percent.
Among BSE sectoral and industry indices, FMCG rose 2.04 percent, auto 1.01 percent, bankex 0.82 percent, finance 0.74 percent and metal 0.47 percent.
However, realty fell 2.95 percent, energy 1.13 percent, IT 1.08 percent, oil&gas 1.02 percent, teck 0.89 percent, power 0.77 percent, utilities 0.76 percent, consumer durables 0.61 percent and healthcare 0.58 percent.
The market breadth turned negative as 1,954 stocks ended lower, 952 closed higher while 139 ruled steady.
The total turnover on BSE amounted to Rs 5,021.73 crore, higher than Rs 4,006.89 crore registered during the previous trading session.
With PTI inputs
Updated Date: Apr 26, 2017 18:02 PM