Sensex, Nifty hit fresh record highs: Just Dial, Tata Teleservices & India Cements soar up to 20%

Domestic stocks gained sharply during late deals on Thursday to scale their new lifetime high levels. The massive surge was supported by gains in IT, banks, financials and FMCG stocks. The 30-share BSE Sensex pack surged more than 800 points to hit an all-time high of 81,522.55 and the broader NSE Nifty index moved over 200 points to trade at a fresh record peak of 24,837.75. Buying interest in select heavyweights such as Tata Consultancy Services (TCS), Infosys, ICICI Bank, Reliance Industries, Hindustan Unilever and M&M lifted the indices higher.

BSE 500 stocks such as Just Dial, Tata Teleservices (Maharashtra), India Cements, Jindal Worldwide, Esab India, IDBI Bank, Endurance Technology, CEAT and Emami jumped as much as 20 per cent.

Here's a look at today's market rise in numbers:

Investor wealth slips

Despite today's upmove in bourses, investor wealth, as suggested by the BSE market capitalisation (m-cap), fell Rs 52,362.9 crore to Rs 454.72 lakh crore today compared with a valuation of Rs 455.24 lakh crore recorded during the previous session.

Broader market was weak

Mid- and small-cap shares saw sharp cuts today, with the Nifty Midcap 100 falling 0.95 per cent and Nifty Smallcap 100 down 1.25 per cent. India VIX, fear index, rose 2.07 per cent to 14.52-level.

229 stocks hit 52-week high levels on BSE

As many as 229 stocks hit their 52-week high levels today. BSE 500 stocks such as Aditya Birla Sun Life AMC, Britannia, Dabur, Deepak Nitrate, Emami, Esab India, Federal Bank, Gillette, Glenmark Pharma, HUL and ICICI Lombard General Insurance Company hit their respective one-year high levels. With that being said, 24 stocks touched their respective one-year lows today.

Weak market breadth: 2,488 stocks in the red

Out of 3,974 stocks, 2,488 stocks were seen declining on BSE. 1,386 stocks were advancing, while 100 stocks remained unchanged.

IT, banks & financials among top gainers

For Sensex, the major constituents that pulled the index higher were TCS, Infy, ICICI Bank, Reliance, M&M, Bharti Airtel, HUL, SBI and ITC. TCS, Infosys, ICICI Bank and RIL alone contributed positively to the around 375-point climb.

On NSE, Nine out of the 16 sub-indices were seen trading in the green. Nifty IT, Nifty Bank, Nifty Financial Services and Nifty FMCG outperformed the NSE index by rising 1.80 per cent, 0.56 per cent, 0.64 and 0.79 per cent, respectively. Nifty Media, Nifty Metal and Nifty Consumer Durables shed 3.54 per cent, 0.95 per cent and 1.07 per cent, each.

FII-DII data

Foreign institutional investors (FIIs) bought Rs 1,271.45 crore of shares on a net basis during the previous session, while domestic institutional investors (DIIs) sold Rs 529.48 crore of stocks, exchange data showed.

Brokerage view

"Markets are eagerly anticipating the first budget of Modi 3.0 in an environment of a strong economy and healthy fiscal condition, bolstered by a Rs 2.1 lakh crore RBI dividend cushion and normal monsoons. We expect the government to renew its focus on infrastructure and capital expenditure, rural development, and support for the lower-income segment, along with some concessions for the tax-paying class, all of which could further stimulate the economy," Prabhudas Lilladher (PL) stated.

The domestic brokerage expects Nifty to reach 26,398 in the next 12 months.