Wednesday, 20 September, 2017

Nifty new record high at 9200; Sensex up 239 points

India shares gain as Fed keeps outlook unchanged; Nifty rises to record Live: Sensex, Nifty maintain upward streak; ITC shares up 4%
Spencer Simpson | 19 March, 2017, 00:26

The Nifty hit a record high of 9,218.4, but pared gains to close at 9,160.05, up 6.35 points.

On Thursday, Nifty touched 9,158.45 points to break even that record.

Indian equity indices extended their bull run on Friday with NSE benchmark Nifty closing at a fresh all-time closing high of 9,160 after crossing 9,200 for the first time during intraday trade.

During the week ended March 17, the Sensex gained 703 points or 2.4 per cent to 29,649 while the Nifty jumped 225 points or 2.5 per cent to 9,160.

The benchmark BSE Sensex ended up 63 points or 0.21 percent at 29,649 after hitting as high as 29,824.62 in early trade as central and state finance ministers gave their final approval to GST legislation, marking an important step in India's journey towards creating a unified market. It saw an intra-day movement of about 70.80 points.

The rally in markets was mostly driven by policy stance revealed by US Federal Reserve that it will keep interest rates in the range of 0.75 per cent to 1 per cent going ahead in the new fiscal. In the broader market, the BSE Mid-Cap index advanced 527.55 points, or 3.95 per cent to settle at 13,893.14.

On the economic front, reports on housing, manufacturing and labor market proved to be a mixed bag.

In the forex market, the rupee opened at 65.45 against the US dollar, down 4 paise from its previous close of 65.41.

Meanwhile, foreign funds bought a massive net Rs 1,360.10 crore yesterday, showed provisional data.

Some of the top stocks that gained on Friday were ITC, Infosys, Wipro, HCL Tech, Martui Suzuki and Axis Bank while some of the key stocks that declined were Bharti Airtel, Idea Cellular, SBI, Bank of Baroda, MM, ICICI and Larsen Toubro.

Sector-wise, all the sub-indices witnessed healthy buying, except the telecom index, which slipped a tad by 0.48 points. The metal index went up 2.84 per cent. Power, consumer durables, infrastructure and capital goods too advanced.

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