Nifty hits record high

The Nifty rose as much as 0.48% to record at 7,929.05, surpassing its previous all-time high hit on Wednesday

The Nifty rose on Friday to a record high for the fourth time this week, as software stocks gained after upbeat US and German data raised optimism about the sector's business outlook, while higher global shares also helped.

The Nifty rose as much as 0.48 per cent to record at 7,929.05, surpassing its previous all-time high hit on Wednesday.

The shares marked their eighth day of gains in nine sessions, and a second consecutive weekly advance, as overseas investors' buying spree continued. Foreigners net bought Rs 413 crore ($68 million) of shares on Thursday and net debt worth $2.65 billion on Wednesday.

The Sensex rose 0.23 per cent, or 59.44 points, to end at 26,419.55. It added 1.21 per cent over last week for a second straight weekly gain. The Nifty closed up 0.28 per cent, or 22.10 points, at 7,913.20, for a weekly gain of 1.56 per cent.