Markets extend winning run to 6th session; Sensex ends at record high

The Bombay Stock Exchange (BSE) building in Mumbai. File   | Photo Credit: Reuters

Extending its winning run to the sixth session, equity benchmark Sensex advanced 70 points to end at a new record on Friday following gains in Infosys, ICICI Bank, TCS and Reliance Industries.

After opening at its lifetime intra-day high of 47,026.02, the 30-share BSE index pared some gains to finish at 46,960.69, up 70.35 points or 0.15 %.

Similarly, the broader NSE Nifty rose 19.85 points or 0.14 % to 13,760.55 -- its new closing record.

Infosys was the top gainer in the Sensex pack, rising around 3 %, followed by Bajaj Auto, SBI, ICICI Bank, HCL Tech, Titan and Asian Paints.

On the other hand, IndusInd Bank, ONGC, HDFC Bank, Maruti and Bajaj Finserv were among the laggards.

Domestic equities recovered from the day’s low in tandem with recovery in banking stocks, said Binod Modi, Head- Strategy at Reliance Securities.

“Record foreign fund flows remain as a key driving force for the market. Strong prospects of earnings recovery, satisfactory progress on vaccination along with consistent improvement in recovery rate from COVID-19 cases, weak dollar and depressed interest rate scenario continue to act as key tailwinds for Indian equities to attract FPI flows,” he added.

Foreign portfolio investors (FPIs) purchased shares worth a net ₹2,355.25 crore on Thursday, according to provisional exchange data.

Elsewhere in Asia, bourses in Seoul ended on a positive note, while Shanghai, Hong Kong and Tokyo were in the red.

Stock exchanges in Europe were trading on a mixed note in early deals.

Meanwhile, the global oil benchmark Brent crude futures slipped 0.35 % to USD 51.32 per barrel.

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Printable version | May 8, 2021 4:05:39 PM |

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