Positive global cues led by US hopes on its recovery were among the reasons attributed by experts to key Indian indices closing at new highs on Friday.
 
On the National Stock Exchange, the Nifty briefly touched the 5000 mark before retreating to 4965.55. The index was up 7.15 points. This was the first time in over a year that the index touched the level.
 
The Bombay Stock Exchange's Sensex was up 34.07 points or 0.20%. It ended the day's trade at 16711.11.
 
Deven Choksey, director, KR Choksey Securities said, "Market will have small corrections. It is fundamentally good for the markets. The welcome change after the steep correction is that there is no euphoria this time around and investors are entering the markets based on the fundamentals. This will continue for some more time."
 
The sectors that recorded major gains were TECk, up 1.92%. IT rose 1.91% and auto went up 1.46%.
 
Oil and gas was the major loser of the day, it fell 2.86%. Realty was down 0.91%. The index was dragged down mainly by Reliance Industries, which accounts for 55% of the weightage of the index. The stock was down 4.45% to close with a loss at Rs. 2,086.35, after it was announced that it would be selling its treasury stock.
 
HCL recorded the highest gains among the 50 stocks that comprise the Nifty, 23 of which advanced during day's trade. HCL was up 5.74%  to close at Rs.340. ACC was up 3.60% to close at Rs830.  Hindalco rose 3.55% to close at Rs135.75. Grasim and Maruti also went up.
 
Among the losers BPCL was down 5.07% to close at Rs535.05. Reliance Industries, Unitech, Reliance Capital and Tata Steel were the other stocks to end with losses.
 
In all 26 stocks among the Nifty pack ended with losses, while one remained unchanged.