Sensex, Nifty at record high; RIL, HDFC Bank stocks fuel rally


Finally, by the close of the week, the key indices were within touching distance of their record highs registered on Monday.

Stocks: The S&P BSE benchmark sensex and the NSE 50-share Nifty hit all-time high on fresh buying in select counters during the week in view of good corporate results mainly from Reliance Industries and Wipro coupled with persistent foreign capital inflows.

The 30-share index rose to 32,223.18 points, up 194.29 points, or 0.61 per cent at 1100 hrs.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) also scaled a new park and was trading 15.50 points or 0.16 per cent higher at 9,930.75 points. It touched a record intra-day high of 32,320.86 points. "The gains in the Nifty were supported by impressive gains in index pivotals HDFC Bank, RIL, ITC and Infosys", Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

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On the currency front, the rupee strengthened by nine paise to 64.34-35 to a U.S. dollar from its previous close at 64.43-44. On Friday, the rupee had closed at 64.32 per dollar.

The Monday green was a direct result of International Monetary Fund's predictions of India's GDP growth at 7.2 per cent in 2017. However, it revised its forecast upwards for Japan, China and other Asian emerging markets.

However, shares of Lupin were up by two percent, followed by a surge in the shares of Wipro, Reliance Industries and Adani Ports.