INDICES NEAR ALL-TIME HIGHS; BANK, FMCG STOCKS SHINE
MUMBAI: Equity indices resumed their climb on Friday after a day’s pause as bank, energy and FMCG stocks saw robust buying amid persistent foreign fund inflows.
Subdued global markets and a flat rupee capped the gains, analysts said. After touching its all-time intra-day high of 46,309.63, the 30-share BSE Sensex dipped into the negative zone in late-afternoon trade. However, it staged a comeback to end 139.13 points or 0.30% higher at 46,099.01, just shy of its closing record.
On similar lines, the broader NSE Nifty rose 35.55 points or 0.26% to 13,513.85. It hit a lifetime high of 13,579.35 during the session.
ONGC topped the Sensex gainers’ chart, rallying 5.68%, followed by NTPC, Tata Steel, ITC, ICICI Bank, Titan, Bajaj Auto and SBI.
On the other hand, Axis Bank, M&M, Tech Mahindra, HCL Tech, Bajaj Finserv and Infosys were among the laggards, skidding up to 2.19%. During the week, the Sensex vaulted 1,019.46 points or 2.26%, while the Nifty surged 255.30 points or 1.92%.
World stocks wobbled as prospects of a no-deal Brexit and uncertainty over US stimulus talks sapped risk appetite.
BSE utilities, oil and gas, power, metal, FMCG, realty and capital goods indices rose as much as 2.25%, while healthcare, teck, IT, auto and telecom closed lower. In the broader markets, the BSE midcap and smallcap indices rose up to 0.51%. Elsewhere in Asia, bourses in Shanghai and Tokyo were in the red, while Hong Kong and Seoul ended in the positive territory.
Stock exchanges in Europe were trading on a negative note in early deals.
Meanwhile, the global oil benchmark Brent crude futures slipped 0.56% to $49.97. The rupee traded in a narrow range and settled for the day 2 paise higher at ₹73.64 against the US dollar.