Equity indices zoom on Q3 results, Nifty50 crosses 10,900-mark

Key Indian equity indices on Friday zoomed to provisionally close at new highs yet again, with the NSE Nifty50 crossing the 10,900-mark for the first time.

According to market observers, positive global cues, coupled with upbeat quarterly corporate earnings and healthy buying in banking, capital goods and oil and gas stocks, gave momentum to the upward rally of the key indices.

The wider Nifty50 of the National Stock Exchange (NSE) touched a record intra-day high of 10,906.85 points.

However, the Nifty50 failed to sustain the 10,900-mark and provisionally closed (at 3.30 p.m.) at a new high of 10,894.70 points, higher by 77.70 points or 0.72 per cent from its previous close.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex) provisionally closed at a new high of 35,511.58 points -- up 251.29 points or 0.71 per cent from its previous session's close -- after touching a fresh high of 35,542.17 points during intra-day trade.

In contrast, the BSE market breadth remained marginally bearish as 1,473 stocks declined as compared to 1,421 advances.

On Thursday, the benchmark indices closed at higher levels despite paring gains on the back of profit-booking.

The Nifty50 edged higher by 28.45 points or 0.26 per cent to close at 10,817 points, while the Sensex closed at 35,260.29 points -- up 178.47 points or 0.51 per cent.

--IANS

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