Kotak Mahindra Bank was the second biggest gainer, rising by 4.51per cent after the private lender announced the appointment of a chief technology officer.
State Bank of India, Tech Mahindra, Power Grid, Bajaj Finserv, Axis Bank, HCL Tech, Reliance Industries and Bajaj Finance were among the gainers.
Titan fell the most by 2.68 per cent among Sensex shares.
IndusInd Bank, Zomato, Mahindra & Mahindra, Bharti Airtel, Nestle and Infosys were the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 7,470.36 crore on Friday, according to exchange data.
Short covering ahead of monthly F&O expiry later this week fuelled the rally as the Sensex breached the psychological 78k mark intra-day on across-the-board buying.
“Renewed optimism by foreign investors coupled with strong US and European market cues further bolstered the sentiment,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Domestic markets experienced a robust rally, spurred by value buying as valuations returned to long-term averages and early indications of earnings growth recovery emerged.
Increased government spending and expected monetary easing are anticipated to boost optimism in rate-sensitive sectors such as banking, NBFCs, auto, consumer durables, and real estate, leading to potential outperformance, Vinod Nair, Head of Research, Geojit Investments Limited, said.
“The sustainability of this trend will depend on upcoming PMI data, Q4 earnings results, and developments related to reciprocal US tariffs,” Nair said further.
