New Delhi: The market witnessed a smart rally amid buying across the board. The Sensex closed up 185 points and the Nifty closed up over 40 points. The CNX Midcap Index closed up over 80 points.
The stock markets soared into an uncharted territory on Friday morning as the BSE Sensex opened at all-time high of above 9,800.
Buying was seen in ICICI Bank, SBI, Tata Steel, Hindalco, HLL, Dr Reddy's Labs, Reliance Energy, L&T, TCS, HDFC Bank, Reliance, Wipro, Tata Tea, GSK Pharma, Jet Airways, VSNL and Tata Chemicals.
Only four stocks, ONGC (down 1.2 per cent), Maruti Udyog (down 0.9 per cent), HDFC (down 0.8 per cent) and Dr. Reddy's Laboratories (down 0.75 per cent), among the Sensex components, had failed to make it to the positive territory in early trades.
Experts believe that markets are in a bullish trend, and one must go long on the Nifty.
"I am almost sure this wave can take markets to 10,000 mark, we had a slight correction of about 500 points, but this rally is really being driven by results," investment advisor P N Vijay said.
"The market is punishing those who have come out with indifferent results like Reliance, Infosys and Grasim," P N Vijay added.
The hotels stocks have also been buzzing over the last couple of days. CNBC-TV18's research analyst Rahul Arora, puts it to increase in demand over supply in the hotel industry.
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