Benchmark market indices hit new highs for all time on Friday, mostly as a result of IT sectors profiting from growing expectations that the US Federal Reserve would stop raising interest rates. The Midas touch was also supplied by recent influx of foreign funds.
Additionally, the local markets were able to extend their winning streak for a second day thanks to optimism in the global equities markets. The benchmark Sensex on the BSE gained 502 points, or 0.77%, to close over 66,000. To finish at 19,564, NSE Nifty advanced 151 points or 0.78%.
IT stocks including TCS, Tech Mahindra, Infosys, HCL Tech, and Wipro were the top gainers from the Sensex pack, increasing 3-5%. Additionally closing higher were Tata Steel, Nestle, HUL, Asian Paints, and ICICI Bank.
M&M, Power Grid, Titan, Maruti, UltraTech Cement, and Sun Pharma, on the other hand, all ended the day in the red.
After the company and its subsidiaries received orders for over 5,000 electric buses, JBM Auto’s shares, among other individual stocks, closed more than 11% higher. Patanjali Foods Inc. stock.
original content – worldnewsfan.com