Equity indices logged record closing highs today led by gains in HDFC Bank, L&T and Titan despite negative cues from global markets. Sensex rallied 383 points to end at 52,232 and Nifty soared 114.15 points to end at its lifetime peak of 15,690.
Titan was the top Sensex gainer soaring nearly 7 per cent, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank. IndusInd Bank, PowerGrid, Bajaj Auto, M&M and Dr Reddy's were among the top Sensex losers falling up to 2.15% .
Of 30 Sensex stocks, 22 ended in the red.
BSE midcap and small cap indices rose 229 points and 248 points, respectively.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "While Nifty is moving towards 16,000, it has set a new record closing high. Nifty has once again formed a bullish continuation today. Tomorrow is credit policy and the outcome of the RBI announcement could dictate the trend.
For Nifty, 15550/15600 are the support levels, however, the resistance is close to 15750/15800. The 15770/15780 levels could be a big hurdle. Investors shouldn't act aggressively in a rising market, and hence should buy on dips or stay stock specific. The focus should be on FMCG and Auto stocks."
Consumer durables shares led the gains with their BSE index rising 1,497 points to 35,192.
Banking and capital goods shares were the other gainers with their indices rising 361 points and 331 points, respectively.
All 19 sectoral indices ended in the green.
Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas said, "Nifty has achieved our short-term target of 15,700. Thus we have raised our short term target to 16,000, which we have been maintaining as our medium-term target. In line with that, we have raised the medium-term target to 16,800. On the downside, the gap area of 15611-15597, which got created on the daily chart on June 3, will act as an immediate support zone."
Market cap of BSE-listed firms rose to a record Rs 226.51 lakh crore against market cap of Rs 224.62 lakh crore in previous session.
Meawnhile, rupee snapped its three-day losing streak and closed 18 paise higher at 72.91 against the US dollar on Thursday. The currency opened on a weak note at 73.17 against the greenback and witnessed an intra-day high of 72.90 and a low of 73.18.
In Asia, bourses in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul finished with gains. Equities in Europe were also trading with losses in mid-session deals.
International oil benchmark Brent crude was trading 0.18 per cent lower at $71.22 per barrel.