At close, Sensex was up 622 points or 0.78 per cent at 80,519 and Nifty was at 24,502, up 186 points or 0.77 per cent.
During the day, both Sensex and Nifty made new all-time highs of 80,893 and 24,592, respectively.
The market was driven mainly by technology stocks.
Share price of Tata Consultancy Services (TCS) surged as much as 6.6 per cent after it on Thursday became the first major IT firm to report June quarter results for the financial year 2024-25 (FY25).
Other tech stocks including Tech Mahindra, Infosys and HCL Tech also saw positive movement due to the results.
Rupak Dey, senior technical analyst at LKP Securities, said, “The sentiment looks positive from here, as indicators and popular overlays indicate continuation of the strength.
“Support is visible at 24,400. The buy-on-dips strategy should support the Street until Nifty falls below 24,400. At higher levels, the current rally may extend to 24,800."
There was less trading in midcap and smallcap compared to largecap.
The Nifty Midcap 100 index closed at 57,173, up 25 points or 0.04 per cent, and the Nifty Smallcap 100 index closed at 18,949, up 29 points or 0.16 per cent.
Apart from IT shares, Pharma, FMCG and Energy indices were the top gainers.
PSU Bank, Realty and PSE indices were among the major laggards.
Vaibhav Vidwani, Research Analyst, Bonanza Portfolio, said, "Inflation came down more than expected. US CPI rose 3 per cent year-on-year in June 2024, while the forecast was 3.1 per cent. This news forced investors to change their investment outlook. done."
"The market is optimistic that this improvement in inflation will allow the Federal Reserve to begin easing monetary policy by this September."
During the day, both Sensex and Nifty made new all-time highs of 80,893 and 24,592, respectively.
The market was driven mainly by technology stocks.
Share price of Tata Consultancy Services (TCS) surged as much as 6.6 per cent after it on Thursday became the first major IT firm to report June quarter results for the financial year 2024-25 (FY25).
Other tech stocks including Tech Mahindra, Infosys and HCL Tech also saw positive movement due to the results.
Rupak Dey, senior technical analyst at LKP Securities, said, “The sentiment looks positive from here, as indicators and popular overlays indicate continuation of the strength.
“Support is visible at 24,400. The buy-on-dips strategy should support the Street until Nifty falls below 24,400. At higher levels, the current rally may extend to 24,800."
There was less trading in midcap and smallcap compared to largecap.
The Nifty Midcap 100 index closed at 57,173, up 25 points or 0.04 per cent, and the Nifty Smallcap 100 index closed at 18,949, up 29 points or 0.16 per cent.
Apart from IT shares, Pharma, FMCG and Energy indices were the top gainers.
PSU Bank, Realty and PSE indices were among the major laggards.
Vaibhav Vidwani, Research Analyst, Bonanza Portfolio, said, "Inflation came down more than expected. US CPI rose 3 per cent year-on-year in June 2024, while the forecast was 3.1 per cent. This news forced investors to change their investment outlook. done."
"The market is optimistic that this improvement in inflation will allow the Federal Reserve to begin easing monetary policy by this September."
