Indications of a gradual rate hike by the US Federal Open Market Committee, steady corporate earnings momentum and the forecast of an above-average monsoon enabled key market indices to hit fresh highs on Thursday.
While the S&P BSE Sensex closed at a new peak of 30,750, the NSE Nifty 50 reclaimed the 9,500 mark. Short-covering of bets, Thursday being the last session of May expiry contracts in the derivatives segment, also supported the bullish sentiments.
FMCG, real estate, IT, capital goods, consumer durables, banking, tech, oil and gas, auto, PSU and metal sectors led the rally.
Pharmaceutical stocks were among the few sectors that remained subdued.
The S&P BSE Sensex ended at 30,750, up 448 points, while the broader Nifty50 settled at 9,501, up 141 points.