Sensex and Nifty extended their previous day's rally on Thursday, which is the last trading day of the current fiscal year.
The 30-share BSE Sensex surged more than 1,000 points while the Nifty 50 index on NSE came close to the 22,500 mark.
Sensex reached the day's high of 74,190.31 around 2.45 pm, inching closer to its 52-week high of 74,245.17. Nifty 50 peaked at 22,516 around 2.40 pm, inching closer to its 52-week high of 22,526.60.
Positive global trends
On Wednesday, the US stock market saw a rally with a closing record set in the S&P 500 index. Asian markets also saw a surge while Australia's S&P/ASX 200 hit a record of 7901.20.
Robust FII buying
Foreign Institutional Investors (FIIs) went on a buying spree in the Indian market with a net purchase of Rs 2,170.32 worth of shares on Wednesday.
Backing from index heavyweights
Nifty 50 kept surging with the support of rising stocks of Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra.
Macro factor
Morgan Stanley predicting India's GDP growth forecast for the upcoming fiscal to 6.8 per cent also contributed to the bull run.
