Mumbai: Rallying for the fourth successive session, equity benchmark Sensex jumped 359 points to scale a fresh lifetime high on Thursday, led by gains in ITC, SBI and Kotak Bank.
After touching an all-time high of 50,687.51 during the day, the 30-share BSE index ended 358.54 points or 0.71 per cent at its new closing record of 50,614.29.
Similarly, the broader NSE Nifty finished 105.70 points or 0.71 per cent higher at its closing peak of 14,895.65. It touched an intra-day record of 14,913.70.
ITC was the top gainer in the Sensex pack, soaring around 6 per cent, followed by SBI, Bajaj Finance, ONGC, M&M, Kotak Bank, UltraTech Cement, NTPC and Bajaj Finserv.
On the other hand, Asian Paints, IndusInd Bank, Bharti Airtel, Tech Mahindra and Titan were among the laggards.
"Domestic equities defied weak cues of Asian markets and extended gains for the fourth consecutive day as growing optimism about prospects of Indian economy post the announcement of bold Budget continued to attract investors," said Binod Modi, Head Strategy at Reliance Securities.
Notably, domestic market crossed Rs 200 trillion market capitalisation mark during the day, he said, adding that strong buying in banks, especially PSBs, and FMCG space supported the market rally.
Elsewhere in Asia, bourses in Tokyo, Hong Kong, Seoul and Shanghai closed with losses.
Stock exchanges in Europe were, however, largely trading with gains in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.09 per cent higher at USD 58.74 per barrel.
Rupee Settles Flat At 72.96 Against US Dollar
The Indian rupee ended unchanged at 72.96 (provisional) against the US dollar on Thursday even as the domestic equity markets scaled fresh highs.
At the interbank forex market, the local unit opened at 72.92 against the greenback and witnessed an intra-day high of 72.90 and a low of 72.96.
It finally ended at 72.96 against the American currency, unchanged from its previous close.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.28 per cent to 91.42.
The rupee is trading in a narrow range as market participants are looking ahead to cues from the Monetary Policy Committee decision due this week and the outlook on the economy by the central bank, analysts said.
On the domestic equity market front, the BSE Sensex ended 358.54 points or 0.71 per cent higher at 50,614.29, while the broader NSE Nifty climbed 105.70 points or 0.71 per cent to 14,895.65 .
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,520.92 crore on Wednesday, according to exchange data.
Brent crude futures, the global oil benchmark, rose 0.55 per cent to USD 58.78 per barrel.
Gold Declines For Fourth Consecutive Trade; Tumbles Rs 322
Gold in the national capital on Thursday declined Rs 322 to Rs 47,135 per 10 gram, recording fall for the fourth consecutive day, with drop in global precious metal prices and rupee appreciation, according to HDFC Securities.
In the previous trade, it had closed at Rs 47,457 per 10 gram.
Silver also declined Rs 972 to Rs 67,170 per kg, from Rs 68,142 per kg in the previous trade.
"Spot gold prices for 24 karat in Delhi were down by Rs 322 reporting fourth consecutive fall with decline in global gold prices and rupee appreciation," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
The rupee appreciated by 6 paise to 72.90 against the US dollar in opening trade on Thursday.
In the international market, gold was trading lower at USD 1,825 per ounce and silver was flat at USD 26.61 per ounce.