Nifty ends at all-time high; Sensex zooms over 250 points.

Nifty ends at all-time high; Sensex zooms over 250 points.NewDelhi: Driven by strong IIP numbers and an unchanged inflation, the broader NSE Nifty on Friday ended at all-time high of 10,178.95, reflecting interrupted buying by domestic institutional investors amid strong global cues.

The BSE benchmark Sensex too gained 250.47 points to close at 32,432.69.

Appreciation in rupee against the US dollar also gave a leg to the rally.

The 30-share barometer settled higher by 250.47 points, or 0.78 percent, to 32,393.26 after moving in range of 32,508.59 and 32,247.74. The gauge had leapt 348 points in the previous session.

The NSE index Nifty closed up by 71.05 points, or 0.70 percent, at 10,167.45, its highest close ever, after making a high and a low of 10,104.45 and 9,977.10, respectively in intra-day trade earlier.

It broke previous record closing of 10,153.10 hit on September 18. It also broke the intra-day record of 10,178.95 reached on September 19. For the second straight week, the Sensex added 618.47 points, or 1.94 percent, while the NSE Nifty gained 187.75 points, or 1.88 percent.

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 2 percent.

Buying activity picked up momentum on positive economic data after industrial productiongrew to a 9-month high of 4.3 percent in August while retail inflation came in at 3.28 percent in September, unchanged from August.

Stocks of Bharti Airtel zoomed 7.89 percent to Rs 431.60 after the company announced that the consumer mobile business of (CMB) of Tata Teleservices Ltd and Tata Teleservices Maharashtra will merge with it in a cash-free, debt-free deal.

Tata Steel, Kotak Mahindra Bank, Coal India and HDFC Bank gained up to 2.86 percent.

In Asia, Tokyo’s Nikkei stock index today hit a fresh 21-year on the back of upbeat Japanese corporate earnings, but Kobe Steel plunged again on a widening quality control scandal.
The benchmark index rose 0.96 percent, or 200.46 points, to close at 21,155.18, the highest level since November 1996 and its ninth consecutive positive session. The broader Topix index was up 0.50 percent or 8.49 points, at 1,708.62.

Bureau Report

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