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The Indian headline indices, Sensex and Nifty on Friday ended the week by achieving new all-time highs. The bullish momentum in the Dalal Street was primarily driven by the factors such as the surge in the select IT and banking heavyweights.
Furthermore, the market extended its winning streak for the sixth consecutive week.
Key Highlights
Intraday Peaks
The Nifty 50 surged to a fresh all-time high of 24,592.20. Similarly, the Sensex also set a new record, touching 80,893.51 during the trading session.
Closing Highs
The Nifty 50 ended the week at 24,502.15, up by 186 points or 0.77 per cent, ending the day at a fresh closing high. Similarly, the Sensex ended the day at 80,519.34, gaining 622 points or 0.78 per cent, also setting a new closing record.
Sectoral Performance
In the IT segments, the leadings stocks were TCS, Infosys, HCL Tech, and Tech Mahindra whereas in the banking sector, Axis Bank saw notable gains.
Screengrab of BSE stocks |
Market Cap
The combined market capitalization of BSE-listed companies reached a historic high of RS 452 lakh crore (USD 5.41 trillion).
Notable Stock Movements
Furthermore other notable movements in the market today were, the Oil India stock surged to 17 per cent following the target revision by Morgan Stanley.
The Federal Bank shares hit a 52-week high after receiving a buy rating from UBS.
Currency Movement
The Indian rupee closed marginally stronger at 83.53 against the US dollar, compared to the previous day's close of 83.56.
Market Breadth
Despite the overall uptrend, midcap stocks showed underperformance, resulting in a market breadth that slightly favored declines over advances.
Global Markets
In the Asian markets, Shanghai and Hong Kong closed higher, while Seoul and Tokyo ended the day with losses. Meanwhile, European markets are trading higher during mid-session trade. In the US, markets mostly closed lower on Thursday.
