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Nifty ends at record high on negative market breadth, Sensex up 250 points

All that happened in Friday's trade

SI Reporter  |  Mumbai 

Yogesh Mehta,VP- Retail Research, Motilal Oswal Securities   The Nifty showed fireworks a week before Diwali and cheered the street by touching a new life high at 10,192, crossing its earlier high of 10,179. The strong rally was pushed by buoyant global markets. Market opened with a mild gap-up on better CPI number and strong IIP announced on Thursday, rallied further with strong Q2 results by TCS which gained over 2%, Nifty settled at record high closing of 10,164 gaining 0.66% Bharti Airtel gained the most by 7.6% on Tata Teleservices acquisition announcement. Major gainers were Tata steel (2.7%), Ultratech (2.2%), HDFC Bank (1.7%), and ICICI Bank (1.36%). Sensex heatmap at close Source: BSE Market breadth   The market breadth, indicating the overall health of the market, turned negative. On BSE, 1,426 shares declined and 1,300 shares rose. A total of 128 shares remained unchanged. Broader markets underperform Broader markets underperformed with the BSE Smallcap adding just 0.1%, while the BSE Midcap remained little changed. Markets at close   The Nifty50 settled at its record closing high of 10,167, up 71 points, surpassing its previous closing high of 10,153 hit on September 18. Sensex, meanwhile, closed at 32,432, up 250 points, 75 points away from its closing high of 32575 hit on August 1. Market commentary by VK Sharma, Head Private Client Group and Capital Market Strategy at HDFC Securities   The Nifty scaling a new life time high is no news as we are only following the American, European and other Asian markets. The corporate results, globally are going to be better. The minutes of the last Fed meeting were also dovish. With domestic investors dipping their toes in the equity markets at an accelerated pace , the process of making new highs in the markets is likely to continue beyond the immediate highs.    While the Nifty has made a new high in September , the Sensex has not. So the markets are waiting for the Sensex to cross the new highs made in August. With the festive mood in the air, markets are likely to do well in the October month, which has historically been the weakest

The benchmark indices extended gains with the Nifty50  closing at record high after Bharti Airtel rallied on a deal to buy the Tata conglomerate’s consumer mobile business, while Reliance Industries surged ahead of its results later in the day. Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates. The data late on Thursday showed annual consumer price inflation rose to 3.28% in ...

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First Published: Fri, October 13 2017. 15:34 IST
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Nifty ends at record high on negative market breadth, Sensex up 250 points

All that happened in Friday's trade

The benchmark indices extended gains with the Nifty50  closing at record high after Bharti Airtel rallied on a deal to buy the Tata conglomerate’s consumer mobile business, while Reliance Industries surged ahead of its results later in the day. Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates. The data late on Thursday showed annual consumer price inflation rose to 3.28% in ...

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