While, IndusInd Bank, Bajaj Auto, Bajaj Finance, Coal India, HDFC, PowerGrid and Axis Bank were among the top laggards, shedding up to 0.82 per cent. All sectoral indices were trading in the green with BSE telecom, healthcare, metal, tech and power indices surging up to 1.80 per cent.
"The rise in equity market currently looks like a catch-up rally just before the 2019 general elections, especially in the case of private banks which are making new highs," said Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas. According to experts, global economic growth concerns and the US Federal Reserve's dovish view on rates will give a positive impetus to emerging markets like India.
Foreign portfolio investors (FPIs) bought shares worth a net of Rs 3,594.51 crore Thursday, while domestic institutional investors (DIIs) sold shares worth Rs 2,080.22 crore, provisional data showed. The rupee, meanwhile, appreciated 15 paise against its previous close to trade at 69.15 in the early session.
In the Asian region, Hong Kong's Hang Seng rose 0.75 per cent, Korea's Kospi was up 0.31 per cent, Shanghai Composite Index soared 2.36 per cent and Japan's Nikkei rallied 0.95 per cent in late morning trade. On Wall Street, the US Dow Jones Industrial Average ended 0.36 per cent higher on Thursday.