Mumbai: Benchmark Sensex edged up on the first session of the November derivatives series on Friday to finish at a fresh lifetime high of 33,157 as it signed off the week on a winning note. The 30-share index scored a hat-trick by finishing at record highs for the third straight session.
Encouraging earnings by bluechips like Maruti Suzuki and beginning of the November futures and options (F&O) series prodded participants to make fresh bets, brokers said. However, the broader NSE Nifty slipped from record to close at 10,323.05, down 20.75 points, or 0.20%. The Sensex resumed higher at 33,228.32 and surged to an intra-day record of 33,286.51. It finally ended at 33,157.22, up 10.09 points, or 0.03%.
For the week, the Sensex recorded handsome gains of 767.26 points or 2.37%—its best weekly gain since 27 January. The Nifty rose 176.50 points, or 1.74%, during the week—the most since 13 October.
“Small and midcap stocks continued to show strength ahead of MSMEs’ meeting with the GST Council scheduled on Sunday. Revival in the banking sector seems to have eased the nerves of FIIs and now market will be expectant on further updates on GST implementation in petroleum products and better Q2 numbers,” said Anand James, chief market strategist, Geojit Financial Services.
Yes Bank tanked 7.39% after the lender reported worsening of bad loans metrics for the second quarter of 2017 -18. Sector-wise, healthcare jumped 1.61%, infrastructure 1.16%, auto 0.85%, consumer durables 0.28%, FMCG 0.23% and IT 0.08%. However, telecom, energy, PSU, oil and gas, banking, teck, realty and metal fell up to 5.06%.
Major gainers were Adani Ports 4.31%, Sun Pharma 3.65%, ONGC 3.53%, Tata Motors 2.55%, Dr Reddy’s 2.12%, Cipla 1.78%, Kotak Bank 1.52%, TCS 1.42%, M&M 1.06%, Hero MotoCo 0.87%, ICICI Bank 0.57%, HDFC 0.56%, Lupin 0.38% and Bajaj Auto 0.34%.
On the other hand, Bharti Airtel fell 4.98%, SBI 3.03%, Wipro 1.94%, RIL 1.88%, NTPC 1.49%, HUL 1.13% and Coal India 0.55%. Among secondary indices, the BSE Mid-Cap index rose 0.28% while the small-cap index gained 0.27%. Both the indices outperformed the Sensex.
Foreign portfolio investors sold shares worth a net Rs375.63 crore and domestic institutional investors sold shares worth a net Rs523.54 crore on Thursday, as per provisional data.
Firm trend in Asian markets and higher opening in Europe following overnight gains in US equities after a slew of solid earnings and Congressional action on tax reform also bolstered sentiment back home, brokers added.
In the Asian region, Japan’s Nikkei rose 1.24%, Shanghai Composite gained 0.27% and Hong Kong’s Hang Seng advanced 0.84%. In the euro zone, Paris CAC 40 rose 0.89%, while Frankfurt’s DAX was up by 0.68% in late morning trade. London’s FTSE gained 0.24%.