Markets have been in a state of upward swing since Narendra Modi has taken charge at the Centre. Stocks, Foreign Institutional Investors (FII), and share markets have seen positive gains with a pro-business reform based government that promises a bevy of changes after Arun Jaitley introduces his budget.
Though the stock market had crossed 25,000 mark on May 16, election results counting day, with Narendra Modi winning a landslide victory, putting an end to the abysmal market performance under the UPA's tenure, this is the first time the markets crossed 25,000 mark on Thursday.
In order to mark the occasion, Amul, which can be called the Indian version of Google Doodle – not timely but situational posters that take a stand, came out with a poster.
The poster shows the beloved Amul girl standing next to the Stock market Bull. The caption, 'Dalals' Treat' (a pun on "Dalal Street", which is Indian version of Wall Street) features at the top of the poster, while the tag-line 'Share Stock' is written at the bottom to commemorate the bullish run.
Also, there are upward green arrows which are symbolic of gains by different sectors beautifully captured within the poster. Kudos to Amul for bringing out the 'apt and meaningful' poster.
— Amul.coop (@Amul_Coop) June 6, 2014
Here's how markets fared surging 25,000 points on Thursday:
Benchmark share indices had gained momentum in the latter half of the trading session on Thursday on renewed buying interest to end at record highs, with metal and information technology shares leading the gains. Further, reports that monsoons are expected shortly also helped improve sentiment.
The BSE Metal Index was the top gainer, up 3.3%, followed by Power, Oil and Gas, IT and FMCG indices, up 1.5-2% each.
FMCG shares firmed up on hopes that normal monsoons would help volume growth in the rural segment. Hindustan Unilever ended up 4.3% and ITC ended up 0.7%.
In the broader market, the BSE Mid-cap ended up 1% and Small-cap index gained 1.4%.
The 30-share Sensex ended up 214 points at 25,020 and the 50-share Nifty ended up 72 points at 7,474.
The rupee was trading higher at 59.29 per dollar as against the last closing level of 59.33 tracking gains in domestic stock markets after they surged to record highs.
In the oil and gas sector, Reliance Industries gained 0.8% and ONGC ended up 2.92% on hopes that subsidy burden would reduce on reports that oil marketing prices would hike retail fuel prices.
Technology shares also witnessed short covering and rebounded in late trades to end with gains. Infosys gained 1.5%, Wipro rose 1.8% and TCS ended up 0.7%.
The market breadth was positive, with 2,157 gainers and 866 losers on the BSE.