The benchmark Sensex on Friday pierced through the 33,000-mark amid heavy buying by cash-rich domestic institutions and strong overseas cues. The broader index ended up 122.60 points, or 1.22%, to close at 10166.70 after shuttling between 10182.65 and 10061.90. The sentiment also remained upbeat as U.S. markets settled higher overnight and opinion polls suggesting BJP may see easy win in Gujarat elections that kicks off on Saturday.
The wider Nifty50 of the National Stock Exchange (NSE) rose by 98.95 points or 0.97 per cent to close at 10,265.65 points.
According to market observers, the upward rally of the equity markets was fuelled by positive hopes of the ruling BJP's win in the critical Gujarat Assembly Elections 2017, which will take place in two phases on December 9 and December 14.
The BSE market breadth was bullish - 1,582 advances and 1,110 declines. "This money will come to the stock market", said a dealer.
Asian markets were trading higher following a broad-based rally in United States equities. "Stability at a governance level is positive for market sentiment", said Karthikraj Lakshmanan, senior fund manager, equities, BNP Paribas MF.
Man remanded in custody over plot to kill British PM (Second Lead)
Security measures were introduced in the 1970s but were increased in the 1980s as the threat from Irish republican groups grew. The IRA had previously targeted prime minister Margaret Thatcher at the Conservative conference in Brighton in 1984.
Domestic institutional investors were net buyers as they bought shares worth Rs926.68 crore on Thursday, while foreign portfolio investors offloaded equities amounting to Rs1,075.62 crore, provisional data showed.
Among sectoral and industry indices, consumer durables jumped by 2.72 percent, FMCG 2.70 percent, oil&gas 2.68 percent, teck 2.61 percent, IT 2.05 percent, auto 1.48 percent, realty 1.36 percent, healthcare 1.21 percent, metal 0.76 percent, bankex 0.75 percent, capital goods 0.74 percent, IPO 0.70 percent and power 0.26 percent.
Other gainers were Sun Pharma, HUL, Cipla, ONGC, Maruti Suzuki, HDFC Bank, Bharti Airtel, Axis Bank, ICICI Bank, HDFC Ltd and Tata Steel, gaining up to 2.21 percent.
Japan's Nikkei was up 1.22% while Hong Kong's Hang Seng rose 0.57% in early trade Friday.