The rally in auto, power and metal stocks helped NSE's Nifty-50 close above the 18000-mark for the first time
Mumbai: The rally in auto, power and metal stocks helped NSE's Nifty-50 close above the 18000-mark for the first time even though the global markets were hit by power shortages, high commodity prices and inflation fears.
Besides festive demand cheer, Rs 100 lakh crore Gati Shakti Master Plan launched by Prime Minister Narendra Modi to boost infrastructure in the country led to a breakout rally as the market registered gains for the fifth consecutive session.
The benchmark index closed at a new all-time high of 18161.75, gaining 169.80 points or 0.94 per cent, two days after breaching the 18000-mark intraday on Monday.
BSE's Sensex gained 452 points or 0.75 per cent to close at a new all-time high of 60737.05. The BSE Auto index gained 3.46 per cent aided by Tata Motors' 20.43 per cent gains, along with Mahindra & Mahindra (5.17 per cent) and Ashok Leyland (5.25 per cent).
Broader markets also rallied. The BSE Mid-cap Index gained 1.56 per cent while the BSE Small-cap gained 0.59 per cent. BSE's market capitalisation crossed Rs 2.70 lakh crore for the first time. The foreign portfolio investors were net buyers of equities worth Rs 937.31 crore while the domestic institutions were net sellers by Rs 431.72 crore.