Updated: May 28, 2021 4:15:16 pm
The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended around 0.6 per cent higher on Friday with the Nifty 50 ending at a record high.
Earlier in the day Nifty went past its previous record intraday high of 15,431.75 and touched a lifetime intraday high of 15,469.65. The NSE barometer eventually settled at 15,435.65, with a gain of 97.80 points (0.64 per cent).
Likewise, the Sensex ended at 51,422.88, up 307.66 points (0.60 per cent). During the intraday session, it reached a day’s high of 51,529.32, however, it was nearly 1,000 points shy of its own record intraday high of 52,516.76.
The gains in the NSE benchmark during the day were led by Reliance Industries (RIL), Adani Ports, Grasim Industries, Mahindra & Mahindra (M&M) and Coal India.
In the previous session, the 30-share BSE frontliner had ended 97.70 points (0.19 per cent) higher at 51,115.22, and the broader Nifty rose 36.40 points (0.24 per cent) to settle at 15,337.85.
In the broader market, the S&P BSE MidCap index ended at 21,661.83, down 25.64 points (0.12 per cent) while the S&P BSE SmallCap settled at 23,478.69, down 112.80 points (0.48 per cent). The volatility index or India VIX slipped 12.78 per cent to 17.3650.
Among the sectoral indices, the Nifty PSU Bank index ended 0.67 per cent higher led by Canara Bank and UCO Bank. The key Bank Nifty ended 0.13 per cent led by Bandhan Bank and RBL Bank.
“Constant fall in US dollar is driving the Indian equity market in addition to the falling infection rate. The sustenance of the rally is supported by the recent improvement in foreign investment with the stabilizing US yield and drop in the dollar index. INR (rupee) is regularly appreciating against USD (dollar),” said Vinod Nair, Head of Research at Geojit Financial Services.
A rally in Asia put global equities on track for a seventh day of gains on Friday as investors bet the US will lead the world out of the COVID-19 pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration.
Tokyo led the advance, with the Nikkei jumping 2.1 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1 per cent and hit its highest level this month.
The Hang Seng climbed 0.6 per cent, but Chinese blue chips were an outlier, slipping 0.1 per cent a day after closing at a near three-month high.
The MSCI world equity index added 0.2 per cent to 710.34, a fraction off the all-time closing high of 710.36 set on May 7.
–global market input from Reuters
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