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Sensex, Nifty log longest rising streak since mid-March

October 18, 2019 17:46 IST

Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.

Illustration: Uttam Ghosh/Rediff.com

Indian equities rose for the sixth straight session on Friday,  the longest gaining streak since mid-March, boosted by unabated foreign fund inflows and positive Brexit developments.

The BSE benchmark Sensex closed 246.32 points or 0.63 per cent higher at 39,298.38. It hit an intra-day high of 39,361.06 and a low of 38,963.60.

 

The NSE gauge Nifty too rose 75.50 points or 0.65 per cent to settle at 11,661.85.

Both benchmark indices also posted their second consecutive weekly rise.

During the week, the Sensex advanced 1,171.30 points or 3.07 per cent, and the Nifty gained 356.80 points or 3.15 per cent.

Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.

On the other hand, Tata Motors, Bajaj Auto, Bharti Airtel, ICICI Bank, Axis Bank and Infosys fell up to 1.05 per cent.

Shares of Reliance Industries ended 1.37 per cent higher ahead of its quarterly earnings, scheduled to be announced later in the day.

RIL's market valuation zoomed to Rs 9,05,214 crore on the BSE during the day.

However, at the close of trade, the company's market capitalisation (m-cap) settled at Rs 897,179.47 crore.

Sectorally, among the top gainers were BSE power, capital goods, realty, utilities, metal and energy indices -- rising as much as 2.63 per cent.

All 19 sectoral indices ended in the green.

In broader market, BSE midcap, smallcap and largecap indices outperformed the Sensex.

"Indian equities outperformed major global markets for the week.

“Equity markets witnessed a sharp rally on foreign investor buying, progress in US-China trade talks and as well as a deal being reached between UK and EU on Brexit," said Sanjeev Zarbade, VP PCG Research, Kotak Securities.

Foreign portfolio investors (FIIs) bought equities worth $ 1.2 billion over the past five trading sessions, while domestic institutional investors poured in $ 263 million into stock market.

FIIs purchased Rs 1,158.63 crore shares on Thursday, stock exchange data showed.

Market experts also said that investor sentiment is upbeat after Finance Minister Nirmala Sitharaman hinted at further stimulus in FY20.

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