Nifty extended its gains to the seventh consecutive day on Thursday, closing above the 25,000 mark. This was also the longest back-to-back winning streak for the Nifty in more than four months.
Benchmark NSE index Nifty 50 gained 32.40 points or 0.13 per cent to close at 25,005.50 on Thursday, while the BSE benchmark Sensex climbed 123.58 points or 0.15 per cent to settle at 81,548.73.
The unexpected imposition of a 50 per cent tariff on India by the US initially dragged the main index down to 24,400, but positive signals from the US to resume trade discussions with India helped matters, Vinod Nair of Geojit Investments told agencies.
Moreover, hopes of a prospective rate cut for the US Fed added to the rally climate.
The 30-pack Sensex saw its fourth day of consecutive gains with NTPC, Axis Bank, Power Grid, Bharti Airtel, Eternal, and Sun Pharma leading the greens. The top losers were Infosys, Titan, UltraTech Cement, and Hindustan Unilever.
Fed rate cut hopes also moved the Kospi, Nikkei, and SSE Composite indices up. Only Hang Seng ended lower.