Mumbai: The stunning election success of the BJP in Uttar Pradesh gave the market a rush of adrenaline as the Nifty today pulled off an all-time closing high of 9,087 and the Sensex raced to a 2-year high.
The 50-share NSE index ripped through the 9,100-mark to hit 9,122.75, an all-time intra-day high too.
A strong set of industrial output numbers for January provided the perfect backdrop to reap more dividends. IIP expanded 2.7 percent year-on-year.The rupee flexed muscles, climbing to a 16-month high of 65.82, a huge gain of 78 paise. Despite a spike in February WPI inflation to 6.55 percent, investors set aside all their caution and pumped in more money on hopes that the assembly poll win will make the government push through bold reforms.
At one point, the 30-share blue-chip index rallied 615.70 points to hit a high of 29,561.93. In the end, it settled up 496.40 points, or 1.71 percent, at 29,442.63 — a level last seen on March 5, 2015.
The gauge had gained 44 points in the previous two sessions. Markets were shut yesterday for Holi.
The Nifty settled higher by 152.45 points, or 1.71 percent, at a life-time high of 9,087, surpassing its previous record of 8,996.25 on March 3, 2015.
