Mumbai: Benchmarks Sensex and Nifty hit fresh all-time highs on Friday amid heavy buying in IT stocks and rally in global markets.
New inflows of foreign funds also contributed to the optimism of the markets.
The BSE Sensex rose 129.91 points to touch a record high of 85,966.03 in early trade. The NSE Nifty rose 61.3 points to hit an all-time high of 26,277.35.
Of the 30 Sensex firms, Titan, IndusInd Bank, Tata Steel, Infosys, Asian Paints, Tata Consultancy Services, Hindustan Unilever, Tech Mahindra, HCL Technologies and NTPC were the top gainers.
Power Grid, Larsen & Toubro, Bharti Airtel and Kotak Mahindra Bank were among the laggards.
In Asian markets, Tokyo, Shanghai and Hong Kong were trading higher, while Seoul was lower.
US markets ended in positive territory on Thursday.
“A significant global market trend has been to overtake China and Hong Kong this month on the hope that Chinese stimulus will improve the Chinese economy and valuations in those markets where valuations are now cheap. IT stocks are likely to respond positively to Accenture’s good guidance,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Foreign institutional investors (FIIs) turned buyers on Thursday as they bought shares worth Rs 629.96 crore, according to stock exchange data. Domestic Institutional Investors (DIIs) also bought shares worth Rs 2,405.12 crore.
Global benchmark Brent crude fell 0.29% to USD 71.39 a barrel.
The BSE benchmark jumped 666.25 points, or 0.78 percent, to settle at an all-time high of 85,836.12 on Thursday. During the day, it hit a record intraday high of 85,930.43, up 760.56 points or 0.89 percent.
The Nifty rose 211.90 points or 0.81% to close at a record high of 26,216.05. It rose 246.75 points or 0.94 percent on the day to hit a new vital intraday high of 26,250.90.
