Mumbai, Jan 3 || The Indian equity benchmarks closed on a strong note this week, touching fresh all-time highs amid strong performance in the banking and auto sectors.
Nifty surged 1.05 per cent during the week and 0.70 per cent on the last trading day to 26,328. At close, Sensex was up 760 points or 0.67 per cent at 85,762. It surged 0.89 per cent during the week.
Bank Nifty also continued its outperformance and scaled fresh record highs above the 60,200 mark.
The Indian equities traded in a cautious tone till New Year, weighed down by persistent FII outflows and heightened global uncertainties. On New Year, the indices ended on a flat note, and on the last day of trading week, they touched fresh all-time highs.
Strong momentum was observed in the auto and PSU banking sectors, while sectoral rotation was evident in utilities as they gained traction on hopes of rising demand and increased industrial activity. Robust December auto sales indicate a broader uptick in economic activity during the festive-driven quarter.