Stock Market Today: Nifty, Sensex End Record Week With Closing Highs as HDFC Bank, ICICI Bank Lead
The Nifty ended at 25818.70, up 1.59% or 402.90 point and Sensex ended at 84574.06, 1.67% or 1389.26 points higher, their highest closing.
BSE signage beside the BSE bull at BSE headquarters in Mumbai (Source: Vijay Sartape/NDTV Profit)
KEY HIGHLIGHTS
Nifty, Sensex End Record Week With Closing Highs as HDFC Bank, ICICI Bank Lead: Closing Bell
Benchmark equity indices logged gains for a second consecutive week and hit new highs in four out of five sessions this week. On Friday, they tracked the gains in US as well as other Asian markets and recorded fresh closing highs again.
The Nifty ended at 25818.70, up 1.59% or 402.90 point and Sensex ended at 84574.06, 1.67% or 1389.26 points higher, their highest closing.
Intraday, both Nifty and Sensex rose around 1.6% to hit their new record highs of 25,831.35 and 84,639.23 respectively
"Post FED rate cut markets are assuming additional inflow can rush in from FPIs which is why today large caps are trading 2-3% high," said Prashanth Tapse, senior vice president of research at Mehta Equities Ltd.
He added that Nifty’s immediate goalpost continues to be at psychological 26000 milestone. "The line in the sand is at Nifty’s support at 25350 mark," he said adding that fresh buying should be on cautious note.
Shares of ICICI Bank, HDFC Bank, Mahindra & Mahindra Ltd., Larsen & Toubro Ltd., and Reliance Industries Ltd. contributed the most to the gains.
While those of Grasim Industries Ltd., State Bank Of India, Tata Consultancy Services Ltd., NTPC Ltd., and Oil & Natural Gas Corp. Ltd. minimised the upside.
Market breadth was skewed in favour buyers as 2,466 stocks rose. Around 1,484 stocks declined, and 109 stocks remained unchanged on BSE.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.16% and 1.37% higher, respectively.
On BSE, all 20 sectoral indices ended Friday on a positive note with the BSE Realty emerging as the top gainer. The BSE IT declined the most.
Weekly Performance
The Nifty added 1.7% this week and the Sensex jumped 1.99%. Among sectors, Nifty Realty and Nifty Bank were the top gainers and Nifty Media and Nifty IT fell.
Rupee Strengthens Against US Dollar
Rupee strengthened by 12 paise to open 83.57 against the US dollar after it closed at 83.69 on Thursday.
Source: Bloomberg
Markets At Close
Nifty, Sensex record highest closing
Nifty ends at 25818.70, up 1.59% or 402.90 points
Sensex ends at 84574.06, 1.67% or 1389.26 points higher
Intraday, both Nifty and Sensex rose around 1.7% to hit their new record highs of 25,849.25 and 84,694.46 respectively
Both Nifty and Sensex hit new lifetime highs in four out of five sessions this week
Broader indices also rose; Nifty Midcap 100 ended 1.6% up while Nifty Smallcap 250 closed 1.06% higher.
All sectoral indices ended lower
Nifty Bank, Nifty Financial Services, and Nifty FMCG hit new record highs on Friday
M&M and ICICI Bank were top Nifty gainers
Grasim Industries and SBI fell the most
ITD Cementation Clarifies
ITD Cementation India Ltd. shares hit the 20% upper circuit on Friday after reports said that Adani Group has become the top contender to acquire stake in the company. The share price rose to the highest level since Aug 29.
Patel Engineering Gets Hydro Power Project From NHPC
Patel Engineering has become lowest bidder for a Rs 240-crore hydro power project from NHPC. The work involve modification of diversion tunnel into tunnel spillway arrangement – Civil & Hydro Mechanical works for Package 6 - TEESTA-V Power Station in Sikkim.
Source: Exchange filing
