FINAL TRADE: Sensex vaults 803 pts, Nifty settles at 19,189 as bulls fire on all cylinders

Stock market today: Dalal Street witnessed a great spectacle on Friday as benchmark indices scaled fresh lifetime highs in a record-setting session. It seemed bulls were let loose as healthy buying was witnessed across the sectors. All three major indices—the S&P BSE Sensex, NSE Nifty, and Bank Nifty ended the session at new closing peaks. The 30-share index of the BSE jumped 803 points, or 1.26 per cent to settle at 64,718.56. During the day, the headline index scaled a record peak of 64,768.58. Similarly, NSE's Nifty50 closed the trade at 19,189.05 levels, up 217 points, or 1.14 per cent. During the session, the index managed to surpass the crucial 19,200 level to reach the 19,201.70 mark.

Nifty Bank also closed at a record high of 44,747.35. It hit an all-time high of 44,787.10 during the day.

"There is a clear picture emerging that India has been showing strong resilience in all the growth parameters and are poised to do well going ahead. With most global economies, including China, witnessing degrowth, India has emerged as a green shot in a bleak scenario. Hence, investors are reposing strong faith in local stocks," said Amol Athawale, Technical Analyst (DVP), at Kotak Securities Ltd.

"Technically, a breakout continuation formation on daily charts and a long bullish candle on weekly charts support further uptrend. For bulls, 19,050 and 19,000 would act as key support zones while 19,300-19,400 would be crucial resistance areas. However, below 19,000, traders may prefer to exit from the long positions. For Bank Nifty, as long as it is trading above 44,300 the breakout texture is likely to continue and could move up till 45,000-45,300," the analyst added.

Broader market 

Nifty Midcap 100 and Smallcap 100 both ended in positive territory. All indices ended in green. 

Sectoral watch 

Among the sectoral indices, Nifty Auto, IT, and PSU Bank ended over 2 per cent higher, while Nifty Private Bank and Pharma ended over 1 per cent higher. Except for Nifty Metal, all indices ended in the green.

Buzzing stocks 

HDFC and HDFC Bank were the top Nifty contributors to the market rally ahead of merger completion. Auto stocks surged ahead of monthly sales data; Mahindra and Mahindra closed at record highs; IT stocks rebounded, tracking strong economic data in the US; Nifty IT was up over 2 per cent.

10 Nifty stocks, including IndusInd Bank, Maruti Suzuki, and Power Grid, hit 52-week highs. Asset management companies' stock surged after the capital market regulator SEBI deferred its decision to rationalise the total expense ratio (TER), or the expenses that mutual fund (MF) schemes can charge their investors. Stocks rose up to 14 per cent. Bandhan Bank saw short covering following block deals, up over 4 per cent. 

Conversely, Adani Group stocks underperformed in a strong session, with Adani Ports down over 2 per cent. Pharma names continued their streak of gains; Sun Pharma and Biocon were the top gainers.

Global markets 

In Asian markets, Seoul and Shanghai ended in the green, while Tokyo and Hong Kong settled lower. Equity markets in Europe were trading with gains. The US markets ended largely with gains in the overnight trade on Thursday.

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