Equity indices touch new highs, IT and auto stocks rally

Equity benchmark indices hit fresh record highs on Friday tracking positive global cues and optimism about an economic recovery. The BSE SandP Sensex closed 689 points or 1.43 per cent higher at 48,783 while the Nifty 50 jumped by 210 points or 1.48 per cent to 14,347.Except for Nifty metal and PSU bank, all sectoral indices at the National Stock Exchange were in the positive terrain with Nifty IT gaining by 3.6 per cent, auto by 3.3 per cent and realty by 1.4 per cent. Among stocks, Maruti Suzuki was star of the day with gains of 5.8 per cent to close at Rs 8,003.90 per share. Eicher Motors moved up by 3.8 per cent and Hero MotoCorp by 3.3 per cent.IT stocks gained on positive global cues with Tech Mahindra advancing by 5.3 per cent, Wipro by 5.2 per cent and Infosys by 3.9 per cent.