N Jayakumar, Managing Director at Prime Securities in an interview with CNBC-TV18 credited the government's policy initiatives partly for the steep rise. He also added that India will continue to get money on a preferred basis.

The Indian festival sales are picking up. The gold and silver prices are also taking support from the rising crude prices, with other commodities also riding the same trend.

Scaling lifetime highs during the session, Nifty50 and Sensex ended almost a percent higher on Thursday. The former closed at 18338.55, holding on to the crucial level of 18,300 while the latter topped the psychologically important level of 61,300 and ended at 61305.95. Markets will be shut on Friday on account of Dussehra. Here are key stocks that moved the most today:

In an interview with CNBC-TV18, Sanjeev Prasad, MD & co-head of Kotak Institutional Equities, said he believes Tata Motors' domestic business is showing promise while for Maruti, one will have to wait and see if the company can come up with anything in its compact segment, where it has lost significant market share. He also spoke about the recent TCS results, and how RIL's much-needed push in renewable energy is creating a paradigm shift in the space.