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Sensex, Nifty Recede From Record Highs; Infosys Rises Nearly 2%

Sensex, Nifty on Friday: 23 out of 30 Sensex stocks started on a higher note. Major gainers in the Sensex in the early session were Wipro and Infosys.

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Sensex, Nifty Recede From Record Highs; Infosys Rises Nearly 2%

Twenty threeout of 30 BSE Sensex stocks started on a higher note


After hitting an all-time highs on Thursday, domestic equity indices surged further on Friday. The S&P BSE Sensex hit a fresh record high by opening above the 36,600 level at 36,635.14 for the first time ever. The NSE barometer Nifty50 also opened above the crucial 11,550 level at 11,056.90 for the first time ever. However, the indices were off the opening highs later. At 10:17 am, the 30-share Sensex was at 36,564.08 with a gain of 15.67 points or 0.04 per cent while the broader Nifty50 was at 11,016.60 with a loss of 6.60 points or 0.06 per cent. Asian shares were higher on Friday following gains on Wall Street overnight, as concerns over an escalating US trade war with China took a breather.

Twenty three out of 30 BSE Sensex stocks started on a higher note. Major gainers in the 30-share Sensex pack in the early session were Wipro (+1.61%), Infosys (+1.53%), Coal India (+1.23%), Adani Ports (+0.88%), Tata Steel (0.86%) and TCS (0.84%). Top laggards in the Sensex pack at the same time were Yes Bank (-0.12%), ICICI Bank (-0.15%), HDFC (-0.26%), Vedanta (-0.38%), ONGC (-0.44%) and SBI (-0.99%).

Wipro (+3.06%), Coal India (+1.68%), UltraTech Cement (+1.38%), Infosys (+1.29%) and Larsen & Tourbo (+1.23%) led the pack of Nifty gainers while the main losers on the index in the morning session were Bharti Infratel (-3.61%), HCL Tech (-1.78%), UPL (-1.71%), SBI (-1.31%) and Cipla (-1.12).

Shares of Fortis Healthcare Ltd  rose 1.6 per cent as the company accepted an investment offer from Malaysia's IHH Healthcare Bhd, capping a months-long bidding war for control of the firm that drew interest from domestic and international suitors. Infosys shares rose by nearly 2 per cent in the opening trade on both the indexes as the IT major is set to report its earnings for the April-June quarter post-market hours today. 

In forex markets, Indian rupee strengthened by 23 paise to trade at a three-week high of 68.32 against the US dollar today. 

Meanwhile, official data released on Thursday showed that retail inflation accelerated to a five-month high of 5 per cent in June, from 4.87 per cent in the previous month. Separate data showed that industrial output slipped to 3.2 per cent in May from 4.9 per cent in the previous month.

On Thursday, the Sensex surpassed its previous record closing of 36,283.25 hit on January 29. The NSE's Nifty50 index settled above psychological mark of 11,000. 



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