The Bombay Stock Exchange benchmark Sensex on Thursday gained 58 points even as the stock market failed to sustain at higher levels after breaching the psychological 20K level in early trade on firm global cues.

Analysts, however, observed that the market has breached the 19,750 breakout level with a sizeable difference, paving the way for anticipated long bull run. Touching the intra-day high of 20,064.31 at the outset, the BSE barometer later moved irregularly on alternate bouts of buying and selling and ended the day at 19,795.87, a rise of 0.29 per cent over Wednesday’s close of 19,738.07.

Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) hit an all-time trading high of 6,027.05 before closing at 5,954.70 from previous close of 5,940.00, a net gain of 14.70 points or 0.25 per cent.

Crediting the surge to buoyant global cues and positive FII activity  market players said key Asian indices, except Shanghai Composite, remained firm on the back of stocks rally in Wall Street on Wednesday.