Mumbai: The stock market turned bullish on 4 January with its benchmark Sensex surging 342 points to a new peak on robust buying in heavyweights like Reliance Industries, ONGC and ICICI Bank.
The BSE 30-share barometer index settled 341.69 points higher at 20,686.89 points, after hitting an intra-day peak of 20,762.80 points.
Country’s biggest lender ICICI Bank was the top gainer with a surge of about 4.7%, while a number of blue-chips like RIL, ONGC, Reliance Comm, DLF, L&T and HDFC rose between 2-4.5%%.
NSE’s 50-share Nifty also scaled a new intra-day peak of 6,300.05 before closing at a life-time high of 6,274.30 from previous close of 6,178.55, a net gain of 95.75 points or 1.55% from 3 January’s level.
The stock market was boosted by a pick up in FII activity as global bourses rallied sharply, marketmen said.
Among Asian indices, the Hang Seng and Nikkei ended up 2.35% and 4.03% respectively at close.
The small-cap and the mid-cap shares witnessed brisk activity during the first half of the session, but later came under pressure due to profit booking by investors.
Shares of banking, capital goods, FMCG, metal and oil and gas sectors attracted hectic buying support and closed with smart gains.