Mumbai, June 5: The Sensex closed above the 25000 level and the Nifty index ended at a new high today powered by metal, power and oil & gas shares on hopes of a quick revival in the domestic economy, amid strong expectations the European Central Bank will unveil a stimulus shortly.
Buying was strong with 11 of the 12 sectoral indices posting gains between 0.17 per cent and 3.33 per cent.
Metal, oil & gas, power, FMCG, IT and capital goods led the surge. Persistent capital inflows from foreign funds into the equity market and widespread buying by retail investors boosted sentiment, traders said.
Foreign institutional investors bought shares worth a net Rs 192.56 crore yesterday, according to provisional data.
The Sensex resumed higher but dropped to a low of 24644.88. It later recovered sharply to settle at its new closing high of 25019.51, a rise of 213.68 points, or 0.86 per cent. It breached the previous closing peak of 24858.59 hit on June 3.
The NSE 50-share Nifty flared up 71.85 points, or 0.97 per cent, to end at a new peak of 7474.10 — surpassing its June 3 closing of 7415.85.
Sensex-based counters such as Tata Motors, Sesa Sterlite, ONGC, Infosys, HUL, RIL, ITC and Tata Steel closed with sharp-to-marked gains.