Mumbai, Jan. 2 -- The key equity benchmarks powered higher on Friday, with the Nifty vaulting past the 26,300 mark after scaling a fresh record high in late trade. Market sentiment stayed buoyant throughout the session as strong Q3 corporate business updates fuelled earnings optimism and sparked broad-based buying. Auto and metal stocks led the rally, while FMCG and IT shares lagged, capping gains at the index level.

The S&P BSE Sensex advanced 573.41 points or 0.67% to 85,762.01. The Nifty 50 index climbed 182 points or 0.70% to 26,328.55.

The Nifty hit a fresh record high of 26,340, and the Bank Nifty climbed to an all-time high of 60,203.75 in late trade.

ICICI Bank (up 1.28%), Reliance Industries (up 1.10%) and HDFC Bank (up 0.92%)...