Nifty zooms to all-time peak 10167, Sensex rallies 250 pts

13 October, 2017 10:03 IST

The markets have been on an upsurge for the last two weeks and was further buoyed by government data which on Thursday showed that industrial output has hit a nine-month high.

While, Consumer Price inflation was steady at 3.28% in the month of September.

The NSE index Nifty closed up by 71.05 points, or 0.70 percent, at 10,167.45, its highest close ever, after making a high and a low of 10,104.45 and 9,977.10, respectively in intra-day trade earlier. The index was up 1.81 per cent for the week.

The benchmark index rose 0.96 percent, or 200.46 points, to close at 21,155.18, the highest level since November 1996 and its ninth consecutive positive session. It rose 1.94 per cent for the week, its biggest such gain since the week ended July 14. "Better IIP figures have given reasons for investors to resume buying, pushing behind fears of soft corporate numbers".

Among individual share moves, Bharti Airtel rose as much as 9.2 per cent to its highest since August 29 and was the top percentage gainer on both Nifty and Sensex, while Tata Teleservices (Maharashtra) Ltd jumped 9.9 per cent. Hong Kong's Hang Seng, however, was down 0.16 per cent.

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent. Tata Steel, Kotak Bank, Coal India, HDFC Bank and ICICI Bank had a field day, surging by up to 2.86 per cent.

Vinod Nair, Head of Research, Geojit Financial Services, said: "Market saw a fresh high due to good start to Q2 (second quarter) results". While quarterly profit slid marginally year-on-year, analysts say margin recovery was the key positive. Reliance Industries climbed 0.48 per cent to end at a record high of Rs 876.70 on expectations of strong earnings from the conglomerate's core petrochemical business. The broader Topix index was up 0.50 percent or 8.49 points, at 1,708.62. Japan's Nikkei was little changed.

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