The BJP’s landslide victory in UP and Uttarakhand worked wonders for the market as the Nifty hit an all-time high of 9,123 and the Sensex soared 616 points in opening trade today after a gush of capital inflows.
What made mood more buoyant was better than expected industrial output numbers. IIP (index of industrial production) in January bounced back by expanding 2.7 per cent year-on-year. All sectoral indices led by bank, capital goods and realty were in the positive zone with gains up to 2.20 per cent.
The 50-share NSE Nifty climbed 188.20 points, or 2.10 per cent, to record an all-time high of 9,122.75 intra-day, surpassing its previous corresponding figure of 9,119.20 on March 4, 2015. The 30-share Sensex too zoomed 615.70 points, or 2.12 per cent, to trade at 29,561.93, a level last seen on March 4, 2015. The gauge had gained 44.29 points in the past two sessions.