Updated: August 13, 2021 4:01:33 pm
The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent higher on Friday led by gains information technology (IT) and fast-moving consumer goods (FMCG) stocks amid positive economic data.
The S&P BSE Sensex rose 593.31 points (1.08 per cent) to end above the 55,000 mark for the first time ever at 55,437.29, while the Nifty 50 climbed 164.70 points (1.01 per cent) to a fresh closing high time of 16,529.10.
Earlier in the day, the 30-share BSE benchmark had crossed the 55,000-mark for the first time and scaled a record high of 55,487.79, while the NSE barometer touched its all-time high of 16,543.60.
The gains in the Sensex were led by Tata Consultancy Services (TCS), Reliance Industries (RIL), HDFC Bank, Infosys, Housing Development Finance Corporation (HDFC) and Larsen & Toubro (L&T).
Among the sectoral indices, the Nifty IT index rose 1.35 per cent led by TCS, HCL Technologies, Wipro and Infy. Apart from this the Nifty FMCG index rose 0.88 per cent led by Tata Consumer Products, Procter & Gamble Hygiene and Health Care and Dabur India.
In the broader market, the S&P BSE MidCap index ended at 22,941.04, down 13.90 points (0.06 per cent), while the S&P BSE SmallCap settled at 26,355.20, down 2.76 points (0.01 per cent). The volatility index or India VIX rose 4.99 per cent to 12.9900.
“Domestic main indices raised the bars, registering new highs, bolstered by favorable economic data and a strong performance by large caps like defensive sectors such as IT, FMCG and telecom. Investor sentiments were boosted as retail inflation eased to 5.59 per cent in July from 6.26 per cent in June owing to softening food prices. Moreover, Industrial Production rose by 13.6 per cent YoY in June on account of good performance by manufacturing, mining and power sectors,” said Vinod Nair, Head of Research at Geojit Financial Services.
European stocks hit new highs on Friday and were on course for a record-breaking run, capping another strong week as investors seize on a dip in US inflation and more forecast-beating corporate earnings.
By 0810 GMT on Friday, the MSCI world equity index, which tracks shares in 50 countries, was just below an all-time record high.The broader Euro STOXX 600 was 0.15 per cent higher – on Thursday it equalled its longest ever longest winning streak. Friday would see the index extending gains for a record tenth consecutive session.
Markets in Germany and France added 0.2 per cent. Britain’s FTSE 100 gained 0.3 per cent. Futures also pointed to a small gain on Wall Street when it opens.
In Asia, markets mostly declined. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.65 per cent, and was 0.87 per cent lower for the week. Chinese blue chips weakened 0.55 per cent, dragged down by its local semiconductor sub-index, which slumped 4.1 per cent.
–global market input from Reuters
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