NEW DELHI: The investors on Dalal Street were in a celebratory mood on Friday, as the benchmark NSE Nifty index hit fresh record high of 10,179.15 in the afternoon trade on Friday. The BSE Sensex advanced over 300 points intraday on Friday.

The 50-share had index earlier hit 10,178.95 on September 19, 2017.

More than 70 stocks on NSE hit fresh 52-week high on Friday. The list includes stocks such as Bata India, Dabur, Bombay Burmah, Britannia Industries, Kotak Mahindra Bank, Hindalco, Havells India and Gillette India.

Ace investor Shankar Sharma in an exclusive chat with ET Now said, “Even as the economic growth and the domestic stock market both are at divergent points, the stock market will do well going ahead.” He expects interest rates to fall going forward, which should drive the market higher.

Going by the buzz, here are five factors that pushed Nifty to record high:

Robust factory output data
The Index of Industrial Production (IIP) for August showed that factory output grew 4.3 per cent against the same month last year on the back of robust mining and electricity sector growth, official data showed on Thursday.

Strengthening rupee
Appreciating rupee further buoyed market sentiment on Dalal Street. The local currency appreciated by 6 paise to end at a fresh one-week high of 65.08 on Thursday on continued selling of the greenback. The currency further strengthened by 19 paise to 64.89 against the US dollar on Friday intraday.

Fresh buying
Robust buying in select telecom, metal and banking counters further fuelled the sentiment. Bharti Airtel was trading nearly 8 per cent up at Rs 430.50 in the afternoon trade around 2 pm, whereas Bharti Infratel, Tata Steel, ICICI Bank and Ultratech Cements were up 2-3 per cent. Bharti Airtel surged after the company announced acquisition of Tata group’s loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.

Stable inflation numbers
Retail inflation came in at 3.28 per cent in September, unchanged from August, despite softening of vegetable and cereal prices, according to the government data. The Consumer Price Index (CPI) or retail inflation stood at 4.39 per cent in September 2016. The Central Statistics Office (CSO) also revised downwards the August inflation to 3.28 per cent from 3.36 per cent.

Positive global cues
European shares rose to their highest level in nearly four months in early deals on Friday, helped by some well-received earnings updates and gains in Bayer after a $7 billion acquisition. The pan-European STOXX 600 rose 0.2 per cent by 0724 GMT and was set for its fifth straight week of gains as inflows into the region's equities continued with confidence over its economic recovery offseting a fresh focus on political risk.