ITC, Bajaj Finance Take Nifty Above 17,700 For First Time, Sensex Gains 350 Points
NDTV
Sixteen of 19 sector gauges compiled by the BSE were trading higher led by the banking index's nearly 1 per cent gain.
The Indian equity benchmarks scaled new highs for fourth straight session on Friday wherein the Nifty 50 index moved above its important psychological level of 17,700 for the first times and Sensex surged over 387 points to hit an all-time high of 59,527. ITC, State Bank of India, HDFC Bank, ICICI Bank, Reliance Industries, Tata Consultancy Services, HDFC and Kotak Mahindra Bank were among the top movers in the Sensex. Indian markets were outperforming Asian peers on Friday as Asian shares steadied in early after losses earlier in the week, but China jitters and global growth concerns weighed on investors' minds, while the dollar sat near a three-week high.
As of 9:20 am, the Sensex was up 328 points at 59,468 and Nifty 50 index climbed 92 points to 17,722.
MSCI's broadest index of Asia-Pacific shares outside Japan recovered from early losses to trade flat, but was still down 2.7 per cent on the week.
Hong Kong's Hang Seng Index rose 0.5 per cent after posting its lowest close in 10 months the day before, as the saga around China Evergrande Group lurched towards a conclusion, unsettling investors.
