Mumbai: Sensex rose for the sixth consecutive session and crossed a sign of 61,000 points for the first time on Thursday, soaring 569 points (almost 1%) to close at 61,306.
Sensex has recorded a new high every day from the holiday shortened week, getting more than 1,200 points in four sessions.
The wider, which crossed the 18K milestone on Monday, also crashed a new high at 18,339, get 177 points (1%) on Thursday.
The shares joined a rally, led by the sector of the car, energy, metal and finance this week, supported by better Q2 results for Wipro and InfoSys.
Rupee depreciation, which fell below 75 against the dollar this week, was too supportive of rally in IT shares, according to market players.
The combination of macroeconomic factors, global cues and strong income has supported the bullish momentum in Dalal Street, said market analyst.
Investors also expect strong sales for car makers in the celebration season, which have led to the automotive sector to be the top enhancer, up almost 7%, this week.
“The market is in a festive mood and witnesses a faster sector rotation.
It was at the center of attention after a strong number of Infosys, Wipro and Mindtree.
The season of income has begun in a strong tone and needs to continue to provide strong numbers for the market to maintain the current momentum , “said Head of Financial Services Oswal Motilal (Retail Research) Siddhartha Khemka.
Of the 30 sensex shares, 22 closed in green on Thursday, with ITC, HDFC Bank and PowerGrid into the top enhancer.
Twins HDFC and ICICI only contributed 364 points to Sprint 569 Sensex points on Thursday.
Foreign investors are clean buyers with an inflow of RS 1,596 Crore on Thursday, according to NSDL data.
“The market continued its neatness to run as a concern about the increase in interest rates that might be in the US at the next stage and increased the results of Tempered bonds,” said Securities Head (Equity Research – Retail) Shrikant Chouhan.
The BSE market capitalization also reached a new high at Crore Rs 275 Lakh.