Indian markets ended the trading session on Friday, the last day of the week, at record closing high. The Sensex closed above 37,300 after hitting intra-day record high of 37,368.60, while the Nifty settled at 11,278.35, after hitting intra-day record high Of 11,283.40. The benchmark index on the BSE hit record high for the 21st time this year, while the Nifty hit it for the 15th time.
ITC was the top contributor to Nifty gains after posting strong quarterly earnings for the period ended in June. ICICI Bank too contributes nearly 50% to Nifty Bank gains.
Market breadth is in favour of advances with the advance-decline ratio at 2:1. Barring cement and IT, all sectoral indices close in the green.
Market update as of 3.35 pm) Here's how the markets performed in the last hour of trading
The Sensex and the Nifty extended their record run in the afternoon trade supported by broad-based buying across sectors, particularly in FMCG, metal, consumer durable, telecom among others.
The Sensex was trading higher by 315 points, or 0.85 percent, to 37,299.54, while the Nifty is at 11,261.50, rising 95 points, or 0.84 percent at 14.30 pm. The 50-share broader index had earlier surged to record high at 11,270.75.
Indexes are supported by midcaps which have gained over a percent. All broader market indices and sectoral indices on the NSE trade in the green. Metal, FMCG have both gained over 2 percent, while other prominent gainers are PVT Bank, Fin Service, Nifty Bank, gaining by up to 0.94 percent.
On the BSE too, Oil & Gas, Metal, Consumer Durables, Bankex, Telecom, Industrials, FMCG, Energy, Materials have surged by up to 2.58 percent, Consumer Durables leading the sectoral indices.
Among stocks, ITC, Tata Motors, Titan Company, Hindalco, Tata Steel, Reliance, Hero MotoCorp are among top gainers, while Adani Ports, Hindustan Unilever, TCS, Maruti Suzuki, Power Grid, Dr Reddy's Labs, Bajaj Finserv are among the laggards.
Market update as of 2.45 pm) How the markets have fared so far
The benchmark equity indexes continued their strong performance on Friday after opening at record highs, helped by better-than-expected corporate earnings, positive cues and foreign inflows, boosting overall trade sentiment.
The Sensex traded higher by 277 points to 37,261.29, while the Nifty was up by 73 points to 11,240.10.
Extending its record-setting spree today as well, the Sensex touched a new peak of 37,327. The BSE index had opened at 37253.86. The 50-share broader Nifty hit a record high of 11,253.90 after opening at 11,233.
ITC was the top gainer in the Sensex pack, surging 6.48 percent to Rs 305.75, after it posted over 10 percent increase in standalone net profit at Rs 2,818 crore for the first quarter ended on June 30, 2018.
Both the Nifty MidCap and the BSE MidCap have risen more than a percent. All BSE sectoral indices, led by FMCG, metal, consumer durables, banking, power and auto, rose up to 1.84 percent.
Nifty FMCG and metal were leading with 2.06 and 1.42 percent rise respectively. Nifty Bank traded at 27,583.70, nearing its life-time high.
Other gainers were Tata Steel, ICICI Bank, Hero MotoCorp, Bajaj Auto, Asian Paints, Kotak Bank, Bharti Airtel, Tata Motors, HDFC Bank, Vedanta, HDFC and Wipro, surging up to 2.6 percent.
Reliance Industries rose 1.72 percent to Rs 1,129, ahead of its quarterly earnings .
Adani Ports, Hindustan Unilever, TCS stocks declined.Also, catch all the action and updates in our
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