The Sensex and the Nifty rallied in trade after the European Central Bank (ECB) announced a $1.3 trillion stimulus through a bond buying programme. Markets across the globe saw frenzied buying following the decision of the ECB.
The Sensex was trading higher by 395 points to a new high of 29,400 points, while the Nifty rallied 101 points to a new high of 8862 points. Leading the set of gainers from the Nifty were stocks like Axis Bank, DLF, HDFC and Larsen and Toubro.
SpiceJet gained almost 3 per cent after the airline announced bookings were open till October 24, 2015. Yes Bank was trading 2 per cent higher on reports that the bank is the main bidder in the race for Deutsche Asset Management (India) Pvt. Ltd's mutual fund business.
Orient Cement rallied after the company reported a nearly 36 per cent rise in in the third quarter net profits.
Midcap stocks were also in the limelight with stocks like Voltas, Unitech and Jain Irrigation in the limelight.
Meanwhile, markets across Asia were trading with strong gains after the $1.3 trillion stimulus announced by the ECB.
Dealers say that this could continue to see global markets rally in the coming days.