Stock markets remained on a record-smashing course for the fourth straight day on Thursday with the benchmark Sensex breaching the 81000 mark for the first time and Nifty scaling the record 24800 level driven by buying in IT, oil&gas and FMCG shares.

Rebounding from its early lows, the 30-share BSE Sensex rose 626.91 points or 0.78 per cent to settle at a fresh closing high of 81343.46. The index opened on a weak note and hit a low of 80390.37 points in early trade.

However buying in IT shares TCS, Infosys and Tech Mahindra and index heavyweight Reliance Industries helped the index pare losses in the afternoon session. The barometer surged 806 points or 0.99 per cent to hit a new record intra-day peak of 81522.55.

The broader Nifty also pared early losses and climbed 187.85 points or 0.76 per cent to settle at an all-time closing high of 24800.85. During the day, it zoomed 224.75 points or 0.91 per cent to hit a fresh lifetime high of 24837.75.

“The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks.

“Investor optimism for the sector grew after strong performance reports from the country’s leading IT firms in the June quarter, coupled with a weakening rupee,” Vinod Nair, head of research, Geojit Financial Services, said.

Softening US bond yields on growing hopes of a US Fed rate cut by September also boosted FII flows into Indian equities, analysts said.

Among the Sensex shares, Tata Consultancy Services rose the most by 3.33 per cent.

Infosys gained 1.93 per cent ahead of the financial results for the June quarter.

Bajaj Finserv, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were among the gainers.

On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards. In total, 22 Sensex shares advanced and eight declined.

MTNL sizzles

Shares of Mahanagar Telephone Nigam Ltd (MTNL) on Thursday hit multi-year highs and was locked in at the 20 per cent upper circuit after the Centre has made a ₹92-crore payment towards its bond dues.

The telco was last traded at its 52-week high of ₹64.02 in the BSE, a gain of ₹10.67 or 20 per cent over the last close.

More than 85.31 lakh shares were transacted at the bourse as compared to the two-week average quantity of 25.81 lakh shares.

In the NSE, it ended at ₹64.08 against the previous close of ₹53.40. Nearly 14.10 crore shares of the company changed hands in the exchange.