Sensex soars to lifetime high amid bullish trend in markets

Mumbai: The BSE Sensex overcame a choppy start to finish at a fresh lifetime high on Friday, propelled by bank and metal stocks amid a bullish trend in overseas markets.

Global equities marched higher after US senators agreed on a bipartisan infrastructure deal, with investors wagering on more stimulus measures in the coming months.

Extending gains for the second session, the 30-share BSE benchmark closed 226.04 points or 0.43 per cent higher at record 52,925.04. Similarly, the broader NSE Nifty advanced 69.90 points or 0.44 per cent to 15,860.35, less than 10 points shy of its all-time closing peak.

Tata Steel was the top performer in the Sensex pack, rallying 4.65 per cent, followed by Axis Bank, SBI, ICICI Bank, Maruti, Bajaj Finserv and L&T.

Index heavyweight Reliance Industries was the biggest loser for the second straight day, tumbling 2.28 per cent.

NTPC, HUL, Titan, Asian Paints and Bajaj Auto were among the other laggards, dropping up to 1.69 per cent.

During the week, the Sensex advanced 580.59 points or 1.10 per cent, while the Nifty surged 177 points or 1.12 per cent.

"Domestic equities rose in today's session mirroring an upbeat mood in the global markets after US President Joe Biden embraced Senate infrastructure deal to help stimulate the economy. The overall mood in Wall Street was lifted since the US jobless claims ticked down as the economy heals.

Sector-wise, BSE metal, bankex, telecom, finance, capital goods, healthcare and industrials indices climbed as much as 2.79 per cent, while energy, oil and gas, utilities and FMCG closed with losses.

In the broader markets, the BSE midcap and smallcap indices rallied up to 1.03 per cent.