Nifty, Sensex Post Sixth Straight Weekly Gain

Foreign portfolio investors (FPIs) sold shares worth Rs 623.63 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 770.02 crore yesterday, provisional data showed.

Mumbai:The equity markets witnessed high bout of volatility on Friday after four senior Supreme Court judges in an unprecedented move criticised the manner in which the highest court is functioning under the current Chief Justice of India raising concerns regarding the integrity of the topmost court.

The BSE Sensex rose 88.90 points to end at new high of 34,592.39 while the NSE Nifty jumped up 30.05 points to record 10,681.25. Both indexes posted their sixth consecutive weekly gain. On the last trading day of the week, the Sensex rose more than 100 points while the Nifty gained about 40 points 10,690. However, buying momentum resumed soon, which propelled the markets to record levels.

Rising bond yields and some disappointing corporate earnings also weighed on markets. But right now they are in a watchful mood.

For the week, the NSE index added 1.2 percent, while the BSE index advanced 1.3 percent.

On the sectoral front, Media rose 1.71 per cent, Private Bank 0.52 per cent, Finance Service 0.43 per cent, Bank 0.34 per cent and Auto 0.31 per cent.

UPL (-1.3%), TCS (-1.2%), Sun Pharma (-0.38%), BPCL (-0.31%), Power Grid (-0.30%) were the top losers in today's trade. All eyes are on Infosys 3rd quarter results as that is likely to give a new direction to the markets, especially large cap IT stocks.

Vanessa Coleman