The Sensex and the Nifty scaled record highs in trade on the back of a fresh stimulus announced by the
European Central Bank aggregating $1.3 Trillion.
The announcement late on Thursday lifted global markets with the US markets closing higher and Asian stocks following suit. The Sensex closed the day higher by 272 points, while the Nifty rallied 74 points in trade.
Software stocks were somehow trading weak after the rupee gained sharply against the dollar. Select heavyweights Infosys and ITC lost ground in trade today.
Tata Motors gained ground in trade today after Jefferies revised its target on the stock. Banking stocks were also in the limelight with sustained buying support. ICICI Bank touched a new record high of Rs 375 on the National Stock Exchange.
Axis Bank also rallied on upgrade by a foreign broking firm. Mid cap stocks also saw buying interest with battery makers like Amar Raja Batteries and Exide Industries gaining ground.
Meanwhile, markets across Asia rallied with the Singapore Strait Times, The Korean Kospi and the Japanese Nikkei all gaining more than one per cent in trade.