Mumbai: The Sensex scaled yet another lifetime peak while the Nifty closed above the key 12,000-mark after five months on Thursday as investors cheered the government's latest reforms push and progress on US-China trade negotiations.
After hitting an intra-day record of 40,688.27, the BSE Sensex ended 183.96 points, or 0.45% up at its new all-time high of 40,653.74, tracking gains in metal, energy and banking stocks.
Similarly, the broader NSE Nifty ended with a gain of 46 points, or 0.38%, at 12,012.05. The index last closed above the 12,000-level on June 4 this year.
Trading sentiment was bullish after the government late on Wednesday approved a Rs 25,000 crore fund for 1,600 stalled housing projects, which is expected to jumpstart consumption and give a boost to real estate and allied sectors.
Strong corporate earnings and sustained foreign fund inflows also kept domestic market sentiment upbeat, analysts said.
"Reforms and earnings are the market drivers, the measures to support realty sector augers well for the sector to outperform. The proposed measure will help to start the recovery of stalled projects and can see a ripple effect in NBFCs, banks and cement sector," said Vinod Nair, Head of Research, Geojit Financial Services.