The Sensex started the day on a positive note with a huge gap of 420 points at 21,416 and the Nifty was up 145 points at 6,404, following empathic wins by the Bhartiya Janta Party (BJP) in Madhya Pradesh, Rajasthan and Chhattisgarh.
The Indian rupee also started on a firm note at 60.89, up 51 paise, against the US dollar.
Soon, the index extended its gains and touched a fresh all-time high of 21,483, owing to agressive buying in banks and power shares.
Further, the Sensex trimmed some of its early gains on the back of selling pressure in FMCG and IT shares and thereafter, traded in a sideways manner for the remaining trading hours.
Finally, the BSE benchmark index ended with a gain of 330 points at 21,326. The NSE Nifty closed up 104 points at 6,364.
Among the broader markets, the Midcap index added 0.5 per cent at 6,419 and the Smallcap index gained 0.4 per cent at 6,250.
Among sectors, the Capital Goods index jumped over 3 per cent at 10,601. The Bankex index zoomed nearly 3 per cent at 13,754. The Realty index spurted 2.6 per cent at 1,401.
While, the Consumer Durables index was down marginally at 5,802.
The market breadth was negative. Out of total 2,690 stocks traded on the BSE, 1,310 stocks declined and 1,201 stocks advanced.
INDEX MOVERS & SHAKERS
ICICI Bank zoomed 5.2 per cent at Rs 1,201. Sesa Sterlite jumped over 5 per cent at Rs 191.
Larsen & Toubro soared 4.5 per cent at Rs 1,146. Maruti Suzuki spurrted 3.8 per cent at Rs 1,763.
ONGC surged 3.5 per cent at Rs 305. NTPC rallied 2.8 per cent at Rs 153.
On the other hand, Jindal Steel tumbled over 6 per cent at Rs 266. Cipla dropped 0.8 per cent at Rs 385.
Tata Steel declined 0.4 per cent at Rs 420. Hindustan Unilever was down marginally at Rs 560.
VALUE & VOLUME TOPPERS
Larsen & Toubro topped the value chart with a turnover of Rs 93 crore. It was followed by ICICI Bank (Rs 91 cr), Tata Motors (Rs 63 cr), SBI (Rs 55 cr) and HDFC Bank (Rs 49 cr).
Ashapura Mine topped the volume chart with trades of around 5.28 million shares. It was followed by Unitech (4.24 mn), VKS Projects (3.85 mn), TV18 Broadcast (2.65 mn) and Adani Power (2.56 mn).