Nifty goes past 7,900-mark to close at fresh high; Sensex up for second week

Aug 23 2014, 01:13 IST
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SummaryNifty closed at life-time high of 7,913.20 points on Friday with the US housing and jobs data signalling strengthening of the US economy.

Nifty closed at life-time high of 7,913.20 points on Friday with the US housing and jobs data signalling strengthening of the US economy. The 50-unit S&P CNX Nifty closed above the 7,900-mark on Friday. Sensex ended the second straight week in green.

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On Friday, foreign institutional investors (FIIs) bought shares worth $50.34 million, while domestic institutional investors sold shares worth $30.60 million, according to provisional data on the exchanges. In YTD, FIIs have bought shares more $12 billion worth of shares.

On Friday, the 30-share BSE Sensex ended 59.44 point or 0.23% higher at 26,419.55 points, while the broader 50-share Nifty ended 22.10 points or 0.28% higher at 7,913 points. According to a Reuters report, the US home resales rose to a 10-month high in July and the number of Americans filing new claims for unemployment benefits fell last week, signalling strength in the economy early in the third quarter.

The markets were led by gains in Hindalco (2.36%), State Bank of India (2.26%) and HDFC Bank (1.80%).

It was a positive week for the market, with the benchmark indices advancing in four out of five sessions and BSE Sensex ending higher by 1.21 %. On Monday, Sensex had gained 1.1% as markets cheered Narendra Modi’s Independence Day speech. Among its peers, most of the Asian markets edged higher on Friday. The Hang Seng (0.47%), Kospi (0.61%), Straits Times (0.04%), Shangahi Composite (0.46%) and Taiwan Taiex (1.37%) were among the major gainers.

Back home, about 17 of the 30 Sensex stocks ended in the green on Friday. The broader market breadth was weak with 1,556 stocks trading on BSE ending lower compared with 1,461 advances. Most of the 12 BSE sectoral indices ended in green. BSE IT (1.63%), BSE Bankex (1.03%) and BSE Capital Goods (0.16%) were among the major gainers. IT stocks rallied due to positive economic data from US, which is a major outsourcing market for Indian IT companies. NSE cash turnover on Friday stood at Rs 15,551.87 crore, while the turnover in the F&O segment stood at Rs 2.09 lakh crore.

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