Nifty50 roars to record closing high as D-Street extends gains to 2nd day

Domestic equity benchmarks soared to all-time highs on Friday amid buying interest seen in IT, metal and pharma stocks, as investors shrugged off a spike in US consumer price inflation.

The S&P BSE Sensex index ended 174.29 points or 0.33 per cent higher at 52,474.76 and the broader NSE Nifty50 benchmark added 61.60 points or 0.39 per cent to settle at 15,799.35 — both record closing highs. Both indices also registered their all-time highs during the session.

Tata Steel was the top performer among blue-chip stocks, closing 4.37 per cent higher. JSW Steel, Coal India, DR Reddy’s, Hindalco, Power Grid,

and RIL were among other gainers.

On the other hand, Axis Bank was the top laggard in the Nifty50 universe, ending 0.91 per cent lower. Divi’s Labs, IndusInd Bank, L&T, Bajaj Finserv, HDFC Life, SBI Life and SBI Life were among other losers.

The easing of Covid-related restrictions by more states also boosted the sentiment of investors on Dalal Street, say analysts.

Some selling pressure was witnessed in real estate and PSU bank spaces. The Nifty Bank and Nifty PSU Bank indices ended 0.24 per cent and 0.54 per cent lower, respectively.

Meanwhile, daily cases of the novel coronavirus in India stayed below the 1,00,000-mark for a fourth straight day.

THIS IS A DEVELOPING STORY. MORE TO COME…

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