Positive start to the earnings season also supported momentum and helped defy subdued global cues
The markets are riding piggyback on only a few stocks
Dollar returns at just 0.3% in 10 years, thanks to rupee depreciation; global trade war to weigh on future gains
India best-performing market in 2018 with a gain of 7%; previous all-time high was on Jan 29
Kotak Mahindra Bank, M&M, TCS and HUL rallied in the range of 21% to 26%, while Asian Paints, IndusInd Bank and Infosys up 11% to 19% from their January 29 levels.
At 02:30 PM; the S&P BSE Sensex was up 308 points at 35,966, rallied 1,063 points or 3% from 34,903 levels on June 5, 2018.
Consistent buying by domestic institutional investors and encouraging services PMI data for June also boosted trading sentiment
Sensex hits 17K: Ends up 22pts at 16,921
Neutral stance by RBI allays fears of further tightening; experts say move warranted to stem outflows by foreign investors
The Sensex rose 262 points, or 0.8 per cent, to 34,925, while the Nifty 50 index rose 91 points, or 0.9 per cent to 10,605.
Barring BSE Consumer Durables, all other sectoral indices ended in the red
The broader Nifty ended 0.21% lower at 10,526.20, snapping its longest winning streak since late Jan 2015; HDFC Bank ended 0.8% lower, while Axis Bank ended 2.6% lower
On similar lines, the NSE Nifty gathered 20.35 points, or 0.19 per cent, to close at 10,548.70, after moving in the range of 10,560.45 and 10,495.65
The 30-share BSE Sensex rose 91.52 points to end at 34,192.65, while the broader NSE Nifty gained 22 points to 10,480.60
Showstopper BSE IT index gained 3.2 per cent on Thursday, the most since January 16
Monday's rally comes as a relief for the Indian markets, which faced heavy selling pressure since February
The BSE 30-share gauge hit a high of 33,354.93, before closing at 33,136.18, up 139.42 points
Benchmark indices gain 1.8%, most in 20 months
Over the last week, the flagship Sensex recorded a fall of 739.80 points or 2.17%
Saurabh Mukherjea, chief executive officer, Ambit Capital tells Puneet Wadhwa that he expects double-digit corporate earnings growth in FY19