Sensex, Nifty Post Seventh Weekly Gains, Longest Run Since 2012

Indian equity benchmarks posted their seventh straight week of gains, the longest run since February 2012 amid a slew of earnings that either met or beat street.

The S&P BSE Sensex rose 0.71 percent or 251 points to fresh record high 35,511 and the NSE Nifty 50 Index gained 0.72 or 78 points to 10,895. On a weekly basis, the Sensex gained 2.66 percent and Nifty climbed 2 percent.

Gains were broad-based as the S&P BSE MidCap Index advanced 0.77 percent and the S&P BSE SmallCap Index rose 0.88 percent. All sector gauges compiled by BSE ended higher led by the S&P BSE Bankex Index's 1.5 percent gain.

• ICICI Prudential: Shares of the Mumbai-based life insurance service provider rose as much as 6 percent to Rs 437.35 after its value of new business rose 82.2 percent to Rs 767 crore versus Rs 421 crore.
• Biocon: Shares of the Bangalore-based bio-pharmaceutical firm rose as much as 6.6 percent to record high of Rs 575 after it announced exclusive global collaboration with Sandoz to develop, manufacture and commercialize multiple biosimilars products in immunology and oncology in the coming years.
• Healthcare Global: Shares of the Bangalore-based provider of medical and surgical services rose as much as 9.57 percent to Rs 305 after RBI approved hike in FII Limit from 24 percent to 100 percent.
• Alembic: The Gujarat-based drug maker rose as much as 9.83 percent to Rs 64.80 after the RBI approved hike in FII Limit from 24 percent to 100 percent.

The initial public offering of Amber Enterprises, the manufacturer of air-conditioners, was subscribed 82 times as of 3:00 p.m. on final day of subscription.

• Portion reserved for institutional buyers subscribed 107 times
• Non-institutional bidders portion subscribed 223.73 times
• Retail portion subscribed 9.2 times

Source: Data provided Axis Capital