The Indian equity markets witnessed a historic surge on Thursday, with both the benchmark indices, Sensex and Nifty, scaling new peaks.
The bullish momentum was predominantly steered by robust gains in finance and technology stocks, setting a positive tone ahead of the Reserve Bank of India's (RBI) much-awaited repo rate announcement scheduled for the following day.
The BSE Sensex surged to an all-time high, closing at 74,227.63, marking a significant ascent of 350.81 points. Similarly, the NSE Nifty rose to unprecedented levels, settling at 22,514, up by 80.00 points.
While the broader markets showcased mixed performances, with the BSE MidCap index maintaining stability and the SmallCap index registering a marginal uptick of 0.1%, the focus predominantly remained on blue-chip stocks.
Among the major gainers on the Sensex were stalwarts such as HDFC Bank, Titan, Tech Mahindra, Asian Paints, and TCS, which contributed significantly to the index's rally. Conversely, stocks of SBI, Bharti Airtel, Power Grid Corporation, JSW, and ITC faced minor setbacks, closing in the red.
Investors are eagerly awaiting the RBI's decision on the repo rate, a key determinant of borrowing costs, liquidity conditions, and overall economic activity.
While expectations are largely tilted towards a status quo, any deviation from consensus forecasts could potentially trigger significant market movements in the near term.
