Mumbai: Stock market benchmarks Sensex and Nifty stayed firm for the third consecutive day and ended with sharp gains on Wednesday, buoyed by massive buying in IT and consumer durables shares amid a rally in global equities markets.
Traders said optimism over the anticipated resolution of the US government shutdown and growing expectations of interest rate cuts by the Federal Reserve also bolstered the sentiment.
The 30-share BSE Sensex rallied 595.19 points, or 0.71 per cent, to settle at 84,466.51. It gained up to 780.69 points or 0.93 per cent to hit an intraday high of 84,652.01.
The broader NSE Nifty climbed 180.85 points, or 0.70 per cent, to close at 25,875.80. During the session, it jumped 239.6 points or 0.93 per cent to hit a high of 25,934.55.
From the Sensex pack, Asian Paints, Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Adani Ports, HCL Technologies, Bharti Airtel, Infosys, Trent, Reliance Industries, UltraTech Cement, Sun Pharmaceuticals, Eternal, Titan and Bajaj Finance were the gainers.
On the other hand, Tata Steel, Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles, Bharat Electronics, Kotak Mahindra Bank and PowerGrid were laggards.
Realty and Utilities closed lower while Metal ended on a flat note. A total of 2,509 stocks advanced while 1,701 declined and 163 remained unchanged on the BSE.
The BSE largecap soared 0.63 per cent. Midcap gauge went up by 0.44 per cent while smallcap closed 0.76 per
cent higher.