Rising for the fifth day in a row, benchmark BSE Sensex on Wednesday set a life-time high of 28,958 points and NSE Nifty recorded a historic 8,741 points as overall macro outlook and optimism over forthcoming budget continue to buoy investor sentiment. After resuming the day higher on positive global cues, the 30-share Sensex jumped further to set a life-time high of 28,958.10 as consumer durables, tech and IT shares attracted good buying support.
Traders said China's benchmark Shanghai Composite index shooting up by 4.74 per cent, its biggest daily percentage increase since October 2009, also bolstered market sentiment. The Sensex after paring some of the gains ended the day's trade at fresh finishing high of 28,888.86, up by 104.19 points or 0.36 per cent from its previous close.
In the last five trading sessions, the key barometer has gained by 1,542.04 points or 5.64 per cent. HUl surged by 4.99 per cent, the biggest gain among Sensex stocks. Bharti Airtel at 3.96 per cent, HDFC at 2.71 per cent, SBI at 2.45 per cent, Coal India at 2.33 per cent and Infosys at 2.01 per cent were some of the other big gainers.
In more of stock-specific trade rather than broad-based, 18 of 30 Sensex scrips ended higher, while 12 finished lower. "on Wednesday’s again the market players have preferred to trade/invest in core economy related sectors like PSU banks, oil and gas stocks and finally capital goods and infra stocks. Unexpected support from HUl and Hero Motors has helped the market to sustain high level," said Shrikant Chouhan, Head, Technical Research, Kotak Securities.