The Benchmark Sensex reached a historic 83,000 level for the first time on Thursday, while the Nifty settled at an all-time high following the rally of blue-chip shares amidst the surge in the global markets and overseas investors' inflows.
A fierce fag-end rally propelled the 30-share BSE Sensex beyond the 83,000 mark for the first time. The benchmark surged 1,593.03 points or 1.95 per cent to an all-time intra-day high of 83,116.19 during the final hour of trade. It closed at an all-time high of 82,962.71, up 1,439.55 points or 1.77 per cent.
The NSE Nifty surged 470.45 points or 1.89 per cent to close at an all-time closing high of 25,388.90. The broader benchmark scaled its new all-time intra-day high of 25,433.35 up 514.9 points or 2 per cent. Nifty and Sensex opened higher, traded in range till late afternoon trade.
The top gainers among the 30 Sensex cos were Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India and Kotak Mahindra Bank.
Nestle was the sole loser from the blue chip bunch.
While the session remained subdued for the most part, strong buying in heavyweight stocks across sectors propelled the indices sharply upward in the final hours, said Ajit Mishra, SVP, Research, Religare Broking Ltd.
In Asian markets, Seoul, Tokyo and Hong Kong settled with significant gains while Shanghai ended marginally lower.
European markets were trading higher. Wall Street ended with sharp gains on Wednesday.
The latest set of US inflation numbers is mildly positive for markets. August CPI Inflation coming at 0.2 percent has brought down the 12-month Inflation to 2.5 percent from 2.9 percent earlier.
"This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2 per cent, the Fed is likely to be cautious and refrain from a 50 bps rate cut, finally settling for a 25 bps rate cut," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
FII bought equities worth Rs 1,755 crore on Wednesday, according to exchange data.
FIIs turning buyers in the cash market during the last three days is another indication that the market will remain resilient, Vijayakumar added.
The global oil benchmark Brent crude rose 1.39 per cent to USD 71.59 a barrel.
The BSE benchmark dropped 398.13 points or 0.49 percent to close at 81,523.16 on Wednesday. The NSE Nifty slumped 122.65 points or 0.49 percent to 24,918.45.
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