The markets made a remarkable comeback in the day's trade. Spurred on by a strong buying interest in stocks across sectors, all major indices zoomed to record highs.

The markets had a good day and ended strong on broad-based buying in scrips across sectors. It was an all time high close for Sensex, Nifty, CNX midcap and BSE smallcap index. All the sectors, barring technology, participated in the rally. Power, metal, realty and infrastructure stocks led the uptrend.

Nifty closed at 4,446, up 59 points, while the Sensex shut shop at 15,092, up 181 points.

Asia ended in green and even Europe was trading reasonably in the positive terrain. Broader markets have continued to outperform the benchmark indices, giving markets an excellent breadth.

GMR was the star performer. The stock was up nearly 14% at Rs 952. Hindalco, Reliance Energy, BHEL, Reliance Communications, HDFC and ICICI Bank are among the top gainers on the Sensex. Bajaj Auto was up 3% as the company seems confident with the second half of the year. Bajaj Auto declared lower than expected quarter one results with margins dipping over 300 bps.

Sajiv Dhawan of JV Capital Services said that it was a good day for traders and the feel good factor is there.

“The feel good factor is definitely there. People are trying to time the correction of this market and expecting some correction. Some short-sellers are getting a bit tired and confused about this market,” stated Dhawan.

He added that the fund flows are relentless. “There is still a lot of fresh money coming into the market and a lot of fresh enquiries. Even for the old investors who feel the market is overvalued and some correction could come in, there does seem to be enough fresh money and investors who are willing to enter the market even at these all time highs,” commented Dhawan.

Nilesh Vasa of CD Equisearch said that after the results season is over, there might be some consolidation. He stated, “It is a momentum market basically and people love to play momentum. Once we are through this results season, we are again looking at some consolidation phase for the next couple of months, possibly with some negative bias.”