The lead was driven by gains in financial stocks such as HDFC Bank Ltd and energy shares.Domestic stock market indices surged on Thursday, with the SP BSE Sensex index registeringan all-time closinghigh.The SP BSE Sensex today rallied 282.48 points, or 0.78 per cent, to close at 36,548.41, higher than its last record closing high of January 29.
The NSE Nifty50 index settled at 11,023.20 surged 74.90points or 0.68 per cent to finish at 11,023.20, taking out the 11,000 mark after a gap of five months.
Upbeat investor sentiments and positive global cues pushed thedomestic benchmarkstock indices higher, said analysts.Advances in energy stocks, led by Reliance Industries Ltd,drove the markets.
Reliance Industries posted an all-time closing high and was the top gainer on both the indices.
Optimism around corporate earnings and stronger Asian shares also heightened sentiment, reported news agency Reuters.Other gainers in the Sensex pack Wipro, Larsen Tourbo, Hindustan Unilever, SBIN and HDFC, rising between 1.46 per cent and 4.42 per cent.
On the NSE Nifty,BPCL, Dr Reddy's, Wipro and Bajaj Finance (rising between 2.40 per cent to 4.05 per cent) ledthe pack of gainers.Shares of oil marketing companies and airlines jumped after crude oil prices posted their biggest one-day drop in two years, reported Reuters.
Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd and Indian Oil Corp Ltd gained over 4 per cent each.
InterGlobe Aviation Ltd and Jet Airways (India) Ltd rose as much as 5 per cent and 6 percent, respectively.An appreciating rupee, sustained buying by domestic institutional investors (DIIs) and fresh foreign capital inflowsalso contributed to the uptrend, brokers said."The interest rates have started going up and are expected to remain so for some time.
This is an indicator of growth in the economy and a lot of the debt investments are beginning to move back into equity.Second, good first quarter results bylarge-cap companies along with a good US economy has resulted in an overall positive investor sentiment," saidTushar Goyal, business development and communication, Meri Punji IMF.Tata Consultancy Services (TCS) earlier this week reporteda record net profit of Rs.
7,340 crore in the April-June quarter, surprising the Street.
That marked the onset of the corporate earnings season for the fiscal first quarter.Meanwhile, investors are awaiting May industrial growth (IIP) data and June retail inflation (CPI) data due later in the day.Foreign funds bought shares worth a net of Rs 636.27 crore, while domestic institutional investors (DIIs) made purchases worth Rs 15.33 crore on Wednesday, provisional data showed.
(With inputs fromagencies)