The Sensex surged by 498.58 points, settling at 78,540.17, while the Nifty rose by 165.95 points, closing at 23,753.45. The rally was supported by broad-based buying, although market experts suggest that the short-term outlook may remain cautious.
The Indian stock market on Thursday rallied amid the anticipation of the policy rate cuts by the Reserve Bank of India (RBI). formation of BJP-led government in Maharashtra, and foreign buying, ending in the green territory.
The Nifty 50 index opened at 25,406.65 points, gaining 50.15 points or 0.2 per cent, while the BSE Sensex surged 94.39 points at opening to 82,985.33 or 0.11 per cent.
The Nifty touched a record high at 25,174.55 and Sensex rose to 82,220.68. The indices opened almost flat with a mixed response from both indices in the opening hour.
The Sensex surged 320.49 points, opening at 81,406.40, while the Nifty climbed 92.15 points to open at 24,915.30. In early trading, the Nifty saw a majority of its constituent companies advance, with 32 stocks gaining and 17 declining. One stock remained unchanged.
The Indian stock market, on Wednesday, retained its gain after suffering a historic bloodbath on Monday. Sensex surged 900 points snapping three-day losing streak.