Sensex’s equity index advanced 70 points to a new high on Friday after advances in Infosys, ICICI Bank, TCS, and Reliance Industries extending its winning streak to the sixth session.
The 30-share BSE index pared some gains to end at 46,960.69, up 70.35 points, or 0.15 percent, after opening at its lifetime intra-day high of 47,026.02.
Similarly, the larger NSE Nifty improved to 13,760.55 by 19.85 points or 0.14 percent — the latest closing high.
Infosys, led by Bajaj Auto, SBI, ICICI Bank, HCL Software, Titan, and Asian Paints, was the top winner in the Sensex pack, rising about 3 percent.
IndusInd Bank, ONGC, HDFC Bank, Maruti, and Bajaj Finserv, on the other side, were among the laggards. Binod Modi, Head of Strategy at Reliance Securities, said that domestic equities recovered from the day’s low in tandem with the recovery in banking stocks.
“Record foreign fund flows remain as a key driving force for the market. Strong prospects of an earnings recovery, satisfactory progress on vaccination along with consistent improvement in recovery rate from Covid-19 cases, weak dollar and depressed interest rate scenario continue to act as key tailwinds for Indian equities to attract FPI flows,” he said.
According to provisional exchange numbers, foreign portfolio investors (FPIs) purchased shares worth a net Rs 2,355.25 crore on Thursday.
Seoul stock exchanges ended on a good note elsewhere in Asia, though Shanghai, Hong Kong, and Tokyo were in the red.
Stock exchanges in Europe were dealing in early deals on a mixed note.
Meanwhile, Brent crude futures, the global oil standard, slipped 0.35 percent to $51.32 a barrel.