Mumbai: Bulls continued to dominate Dalal Street on Friday as Sensex closed above the historic 84,000-mark for the first time while Nifty settled at a new record high of 25,790.95 on Friday, powered by a rally in bank stocks following the Fed rate cut.
Stronger-than-expected US jobless claims, heavy buying in mid- and small-cap stocks, along with upbeat trends in the US and Asian markets were among the reasons for the rally.
BSE Sensex jumped 1,359.51 points or 1.63 per cent to settle at an all-time high of 84,544.31. During the day, it soared 1,509.66 points or 1.81 per cent to hit an intra-day peak of 84,694.46.
Nifty surged 375.15 points or 1.48 per cent to close at a record 25,790.95 level. During the day, it zoomed 433.45 points or 1.70 per cent to reach an all-time intra-day high of 25,849.25.
Mahindra & Mahindra jumped over 5 per cent. JSW Steel, ICICI Bank, Larsen & Toubro, Bharti Airtel, Nestle, Adani Ports, Hindustan Unilever (HUL), HDFC Bank, Tech Mahindra, Maruti, Kotak Mahindra Bank and Tata Steel were the other big gainers.
SBI, IndusInd Bank, Tata Consultancy Services and Bajaj Finance were the laggards.
Several stocks, including ICICI Bank, Bharti Airtel, HUL, and Bajaj Finserv, hit fresh 52-week highs during the day.
The rally was propelled by positive sentiments in the global markets in the wake of a 50bps Fed rate cut and an accommodative monetary policy. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green.
