Nifty, Sensex end at fresh closing highs amid broad-based buying; Cipla top Nifty gainer
Amid positive global momentum, Indian equities continued their run-up for the twelfth straight day.
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Indian equities ended Friday's session at record highs amid broad-based buying. Nifty at the close ended at a fresh high of 25,236, up 0.33 per cent. Meanwhile, broader markets are also trading near record highs, while the Sensex settled higher by 0.28 per cent or 231.16 points higher at 82,365.77.
Nifty Bank- the barometer of the banking sector performance was also ended 0.4 per cent higher.
The gains come even as the investors and traders await Q2 GDP data due to be released later today in India.
Prashanth Tapse, Senior VP (Research), Mehta Equities suggested that key catalysts for the markets today included Moody’s raising India’s 2024 GDP growth forecast to 7.2 per cent, substantial FII buying, positive global cues, and upbeat US GDP data.
As all eyes turn to the US PCE index, the potential for Federal Reserve rate cuts on September 18th remains the biggest driver, added Tapse.
Sectorally, barring the media and FMCG pack all sectors traded in the green, with pharma and realty pack leading the gains. The domestic currency amid strength in the Indian equities gained strength and settled higher against the dollar at Rs 83.86 per US dollar.
Meanwhile, European markets -the STOX 600 index marked a record high in intraday trade, rebounding from a sell-off amid hopes that major global central banks will loosen monetary policy while economic growth and the labour market remain relatively robust.
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Written By: ZeeBiz WebTeam
Updated: Fri, Aug 30, 2024
04:24 PM IST
04:24 PM IST
ZeeBiz WebDesk
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