Shares of Sensex collected 308 points, and NSE Nifty set a new record on Friday, following the growth of index heavyweights Reliance Industries, HDFC twins and Kotak Bank amid positive signals from world markets.
Further, the decline in the daily number of Covid-19 cases has boosted investor sentiment too much, analysts said.
The BSE index with 30 shares ended 307.66 points or 0.60 percent higher at 51,422.88. The broader NSE Nifty rose 97.80 points or 0.64 percent to close at its new high of 15,435.65.
Reliance Industries was the biggest winner in the Sensex package, jumping nearly 6 percent, followed by M&M, HDFC Twins, Kotak Bank, ITC and Bharti Airtel.
On the other hand, Sun Pharma, Bajaj Finserv, ICICI bank and others. Reddy’s were among the backlog.
“Domestic stocks remained optimistic and recorded a new level as the improved outlook for economic recovery and strong earnings in 4QFY21 continued to boost investor sentiment. A strong recovery at Reliance Industries was a key driver,” said Binod Modi, head of strategy for Reliance. Securities.
The market gathering held this week added over 3 trillion Rs to the wealth of investors, and the market capitalization of BSE-listed companies exceeded a significant 3 trillion USD during the week, he noted.
Further, a sharp drop in the daily number of COVID-19 cases in the second wave (which remained below 2 lakh despite major tests) and an improvement in the recovery rate have encouraged investors in recent days, he said.