BSE Sensex breached the historic 79,000-mark for the first time while NSE Nifty also hit a fresh record high as stock market rebounded after falling in early trade on Thursday.
After falling in early trade, the 30-share BSE Sensex jumped 339.51 points to hit its new lifetime peak of 79,013.76, aided by buying in blue-chips Reliance Industries and ICICI Bank.
The Nifty also rebounded, going up 97.6 points to hit its fresh all-time high level of 23,966.40.
The biggest gainers among the 30 Sensex companies were: UltraTech Cement, JSW Steel, Reliance Industries, Axis Bank, ICICI Bank, Bajaj Finance, Kotak Mahindra Bank and Tata Steel, while Maruti, Tech Mahindra, HCL Technologies and Larsen & Toubro were the top laggards.
"The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80,000 levels," news agency PTI quotedVK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, as saying.
"A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom. With RIL, which had not participated in the rally till yesterday joining the bull bandwagon, the rally has the strength to continue," Vijayakumar said.
The BSE benchmark Sensex climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25 on Wednesday.
The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80.
