Weekly Review: Sensex, Nifty hit new peak during the week

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During the week, the Sensex registered a rise of 8.14 points, or 0.02 per cent, while the Nifty rose 28.90 points, or 0.29 per cent.

Benchmark Sensex ran up 124 points on Friday, spurred by Reliance Industries reporting its highest quarterly earnings and its announcement of a bonus issue.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. Asian shares ended lower after the European Central Bank announced no changes to its stimulus policies, but European shares traded higher. European equity markets were trading higher in early afternoon trade. At 9.47 a.m, the Sensex was trading up 110.86 points or 0.35% at 32,015.26 with 14 components gaining.

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On Tuesday, key indices fell, as the market heavyweight ITC dropped more than 12 percent, after the GST council chose to increase the cess on cigarettes.

Key equity indices-BSE Sensex and NSE Nifty on Friday opened in green after closing in red on Wednesday amid muted corporate earnings. Sector-wise, IT rose 2.10 per cent, followed by Energy (1.57 per cent), Media (1.06 per cent), Commodities (0.53 per cent), Private bank (0.35 per cent) and Metal (0.21 per cent). Per street expectations, the guidance was expected to be in the range of 0-2 per cent, while the actual guidance was in the range of -0.5 per cent to 1.5 per cent or $1,962 million to $2,001 million. Major index gainers were Wipro (6.28 per cent), Reliance (3.67 per cent), Zee (3.17 per cent), Coal India (2.76 per cent) and HCL Tech (2.18 per cent). Turnover in the cash segment jumped to Rs 29,346.72 crore from Rs 25,835.64 crore yesterday. The market capitalisation of listed firms on the NSE stood at Rs 1,29,97,646 crore.

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