MUMBAI: The Sensex surged 666 points on Thursday, catapulting to a new all-time high, driven by strong buying in auto and banking stocks and buoyed by positive momentum in global markets.
The BSE Sensex leapt 666.25 points, or 0.78 per cent, to close at a historic 85,836.12, with 28 of its stocks advancing and only two declining.
The benchmark hit an intra-day high of 85,930.43, gaining 760.56 points at its peak and inching within 70 points of the 86,000 mark.
New heights
The NSE Nifty also scaled new heights, rising 211.90 points, or 0.81 per cent, to settle at a fresh record of 26,216.05.
Earlier in the session, it soared by 246.75 points to touch a lifetime high of 26,250.90.
Among top performers, Maruti climbed nearly 5 per cent, with Tata Motors, Bajaj Finserv, and Mahindra & Mahindra also logging substantial gains.
L&T, NTPC laggards
On the downside, Larsen & Toubro and NTPC were the only laggards.
“China’s recent economic stimulus and stable US data have bolstered investor sentiment, propelling markets higher,” said Vinod Nair, Head of Research, Geojit Financial Services.
He added that expectations of stronger corporate earnings and increased government spending in H2-FY25 are also keeping Indian markets buoyant.
Auto gains
In sectoral indices, auto gained 2.23 per cent, with metal and commodities stocks also performing well. Smallcap stocks saw a slight decline, while midcap stocks ended flat.
Foreign Institutional Investors (FIIs) continued to sell, offloading Rs973.94 crore worth of equities, while Domestic Institutional Investors (DIIs) remained net buyers, purchasing Rs1,778.99 crore.
Global cues
Global cues played a key role in today’s rally, with Asian markets recording substantial gains, and European markets trading in positive territory. However, US markets closed mostly lower on Wednesday.
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