You are here: Home » Markets » News
Business Standard

Markets close at six-week high on macro cheer; Infosys ends higher

The 30-share BSE Sensex rose 91.52 points to end at 34,192.65, while the broader NSE Nifty gained 22 points to 10,480.60

Press Trust of India  |  Mumbai 

Markets, Up, Down, BSE, NSE, Stocks
Photo: Shutterstock.com

Benchmarks overcame a bout of late-session volatility to finish at fresh six-week highs on Friday, as investors looked forward to the earnings season amid better-than-expected macroeconomic data.

This was the seventh straight session of gains for the — their longest winning streak since November last year.

The 30-share BSE rose 91.52 points to end at 34,192.65, while the broader NSE gained 22 points to 10,480.60.

Investor sentiment was upbeat on positive macro data announced after trading hours yesterday and optimism ahead of earnings by coupled with a firming trend at other Asian bourses, brokers said.

The BSE Sensex, after shuttling between 34,313.14 and 34,103.53, finally closed at 34,192.65, up 91.52 points, or 0.27 per cent.

ALSO READ: Industrial output expands at 7.1%; March retail inflation eases to 4.28%

This was its highest closing since February 27 when it had ended at 34,346.39. The index has now gained 1,173.58 points in the past seven sessions.

On similar lines, the NSE rose 21.95 points, or 0.21 per cent to finish at 10,480.60 after moving between 10,519.90 and 10,451.45.

Sensex

Both the key indices finished with gains for the third week in a row.

The BSE recorded a significant rise of 565.68 points, or 1.68 per cent, while the NSE advanced 149 points, or 1.44 per cent, this week.

The index of industrial production (IIP) grew by a healthy 7.1 per cent in February, driven largely by the robust performance of the manufacturing sector coupled with higher offtake of capital goods and consumer durables, while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed yesterday.

"Another week with gains... on the back of positive global cues and ease in risk aversion amongst investors as trade war clouds shun away. Bank buying was seen across the board. "IT sector performed well with a breakout of consolidation and leading the rally along with private banks and metal. Auto sector saw some muted efforts while PSU Bank Index reversed after two weeks of consecutive gains as selling pressure was clearly visible in them," said Mustafa Nadeem, CEO, Epic Research.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 3.69 billion on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 6.16 billion on Thursday, provisional data showed.

Adani Ports emerged as the best performer among constituents by climbing 2.66 per cent, followed by Wipro at 2.28 per cent.

ended higher by 0.58 per cent as investors were seen accumulating the stock ahead of its earnings.

First Published: Fri, April 13 2018. 23:02 IST
RECOMMENDED FOR YOU