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.

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.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

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.

RECOMMENDED STORIES

Power of Compounding: How long it will take to build Rs 5 crore corpus with Rs 5,000, Rs 10,000 and Rs 15,000 monthly investments?

Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?

SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?

PPF Calculations: How to get Rs 72,000 a month tax-free income from Public Provident Fund?

Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations

SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?

Power of Compounding: How soon will monthly SIP of Rs 11,000 reach Rs 8 crore corpus target?

Looking for short term investment ideas? Analysts suggest buying these 2 stocks for potential gain; check targets