Shares extended their spectacular rally today, catapulting the benchmark index Nifty beyond a new historic high of 8,300 on robust buying led by technology stocks on the National Stock Exchange (NSE) triggered by a slew of positive developments in India and abroad.
Investors went on a stock-picking spree backed by bullish global sentiment and relentless capital flows. The market also soared on hopes of more reforms from the Modi Government as well as expectations of better growth outlook in the second half of FY15 coupled with low interest rate regime.
The bellwether index surged by a massive 153 points, or 1.87 per cent, to conclude at 8,322.20 after briefly hitting a new lifetime peak of 8,330.75.
Upbeat global market sentiments in the backdrop of strong US GDP report and a surprise announcement of expansion of stimulus programme by the Bank of Japan also fuelled the stunning rally.
Technology stocks remained the darling of stock market for a second day followed by financial, energy, auto, infra, metal, FMCG and realty stocks.
The key contributors to Nifty's record surge included HDFC, Infosys, L&T, Reliance, L&T, TCS, SBI, HDFC Bank, Tata Motors, ONGC, Axis Bank, ICICI Bank, Sun Pharma, Maruti, Tata Steel, IDFC, Dr Reddy's, Kotak Bank, Gail, M&M, Coal India, Cipla, Tech Mahindra, HUL, Bajaj Auto and Hindalco.
Turnover in the cash segment fell to Rs 20,338.74 crore against Rs 21,337.31 crore yesterday. A total of 10,774.18 lakh shares changed hands in 83,81,328 trades, while market capitalisation stood at Rs 94,90,520 crore.
