The Indian stock benchmarks advanced to record highs on Friday paced by gains in IT and metal shares. At close, the BSE Sensex ended 174 points higher to close at all-time high of 52,474.76 and the Nifty 50 index advanced 62 points to close at record high of 15,799.35.
Tata Steel, JSW Steel, Coal India and Dr. Reddy’s were among the top Nifty gainers, while Axis Bank, L&T, Adani Ports, Divi’s Lab and Bajaj Finserv were laggards. At Intraday, the Sensex rose as much as 341 points to hit record high of 52,641.53 and Nifty 50 index touched an all-time high of 15,835.55. The markets have been rising to record highs on the back of hopes of faster economic revival as pace of new Covid-19 infections continues to decline, analysts said.
Seven of 11 sector gauges compiled by the NSE ended lower led by the Nifty Realty index's 1 percent decline. Nifty Media, PSU Bank and Private Bank indices also declined around 0.5 percent. On the other hand, the Nifty Metal index was top sectoral gainer, the index jumped 2.7 percent. Nifty IT and Pharma indices also rose over 1 percent each.
For the week, benchmark Sensex recorded weekly gain of 1 percent and investors’ wealth increased more than Rs3 trillion.
Markets: Equity Mutual Funds net inflow records Rs 10000-cr in May
Inflation based on Consumer Price Index likely to touch 5.7pc in May:Barclays
Foreign Portfolio Investors pumped Rs.8K-Cr in Indian markets last week