The Nifty hit an intraday high of 26,340 to end at 26,328, up 0.7%. The Sensex closed at 85,762 and gained 573 points.
Power, the auto sector and the financial sector were led from the front. On the Sensex, NTPC, Trent, Bajaj Finance, Power Grid and Maruti Suzuki rose between 1.5% and 5%.
The broader markets remained firm. Midcaps gained about 1%, while smallcaps rose 0.7%.
Banks provided strong support. The banking index rose 0.7%, while PSU banks rose 1.2%, with both segments hitting new highs.
Auto stocks performed strongly, helped by strong sales in December. Hero MotoCorp and TVS Motor gained more than 1.5% each.
On the other hand, the ITC fell 4% after warnings from brokers on the impact of higher cigarette taxes, pushing the FMCG index down 1.2%.
Metals rose 1.4%, reflecting firmer global prices amid a weaker dollar and signs of improving industrial activity in China.
Among the global signals, European markets hit record highs, with London’s FTSE passing 10,000 for the first time. Asian markets were mostly stable, while Japan and China remained closed.
At home, the rupee weakened to close at 90.20 per dollar, pressured by a stronger dollar.
Experts say investor sentiment remains constructive, with third-quarter earnings now in focus as a guide to the market’s next move.
That’s all for today. Stay tuned to ET Markets Radio for more market updates.
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