Mumbai: Bulls staged a spectacular comeback as stocks rallied with vigour and strength on wave of frenzied buying amid promising growth outlook, lifting the benchmark Nifty to another historical close on the National Stock Exchange (NSE).
The 50-share index surged by a hefty 87.05 points, or 1.08 percent to conclude at 8,173.90. The bellwether index earlier tagged a fresh historic peak of 8,180.20 in intra-day trading - surpassing the prior peak set on September 3.
Broad-based buying was seen across the sectors led by fianancial, technology, metal, energy, fmcg, infra, healthcare and realty. The rally was not restricted to large-cap stocks as mid-cap and small-cap stocks jumped nearly 2 percent.
Falling global crude prices, robust FII buying alongside strengthening rupee mainly bolstered investors' sentiment amid signs of strengthening economy and policy measures to keep growth momentum at a healthy pace.
After a strong start supported by investors' healthy appetite for growth sectors, the key indices continued its sprint while consolidating its gains till the end session.
In other Asian markets, equities exhibited a mixed trend in a quiet trade amid caution despite robust export data from the world's second-largest economy, China.
Oil and gas stocks, including the PSU oil marketing companies and paint shares, were in limelight boosted by falling crude prices.
Volume ran higher across the board as out of the 50 shares in Nifty, 41 stocks gained while 9 shares declined.
Major contributors to the Nifty gains included HDFC Bank, TCS, Infosys, ONGC, ICICI Bank, Reliance, ITC, SBI, L&T, Asian Paints, Tata Motors, HUL, Sun Pharma, Wipro, Asian Bank, Hindalco, Grasim, Maruti and Ultracemco.
The key lagards were NTPC, NMDC, Tata Power, M&M, Power Grid, IDFC, United Spirits, Kotak Bank and HDFC.
Turnover in the cash segment rose to Rs 17,787.58 crore from Rs 17,599.47 crore last Friday. A total of 9,515.28 lakh shares changed hands in 72,96,701 trades, while market capitalisation stood at Rs 94,24,632 crore.
