Shares continued their record- breaking spree on optimism generated by economic data and a wave of buying as the benchmark Nifty today conquered another historic milestone of 8,100 mark and settled at a fresh all- time high on the National Stock Exchange (NSE).
Technology stocks spearheaded the rally which was also supported by metal, healthcare, realty, auto and infra shares.
The market got off to a strong start, supported by investors' healthy appetite for specific stocks on the back of positive first quarter economic data, which indicated signs of economic recovery.
However, a sudden bout of volatility and profit-taking in select financial, energy and FMCG scrips led the benchmark to retreat from its all-time peak. But the NSE benchmark soon regained lost ground and ended with good gains.
Excitement over the healthy economic data, which showed a rebound in GDP growth in April-June and narrowing of current account deficit, along with soaring corporate profits and sustained overseas capital inflows are supporting the market at this juncture, a trader said.
The 50-share Nifty spurted by 31.55 points, or 0.39 per cent, to conclude at 8,114.60. The key index hit a new peak of 8,141.90 in intra-day trading.
Meanwhile, most Asian equities rallied to multi-week peaks following stronger-than-expected economic data from China and robust US economic reports overnight amid hopes of fresh easing measures from the European Central Bank.
Technology stocks saw huge buying interest after their recent under-performance with Infosys, TCS, Wipro and Tech Mahindra logging healthy gains. State-run oil marketing firms also attracted good buying on falling global crude oil prices.
Key gainers included L&T, Bharti Airtel, Tata Motors, Reliance, M&M, Coal India, Axis Bank and Tata Steel.
ITC, ONGC, ICICI Bank, SBI, HDFC, HDFC Bank, Bajaj Auto and Hero Moto were among the key index heavyweights which saw a good amount of profit-taking.
Turnover in the cash segment jumped to Rs 19,677.21 crore from Rs 16,502.33 crore yesterday. A total of 9,770.10 lakh shares changed hands in 76,50,662 trades, while market capitalisation stood at Rs 93,00,650 crore.
