In a private address, the Republican presidential candidate attacks prosecutors involved in his criminal indictments
The benchmark indices extended their bull run for the seventh consecutive week with banking and IT stocks giving a major thrust to the upward trajectory, said market observers.
The barometer 30-scrip Sensitive Index (Sensex), which crossed the psychologically important 35,000-mark during the week, augmented by a substantial 919.19 points or 2.66 per cent to close at a fresh level of 35,511.58 points.
The wider Nifty50 of the National Stock Exchange (NSE) crossed the 10,900-points-level for the first time last week.
However, the Nifty50 failed to sustain that level at the closing on Friday. The index closed trade at a fresh high of 10,894.70 points - up 213.45 points, or two per cent, from its previous week's close.
The indices also touched their new 52-week highs. On Friday, the Sensex scaled a fresh intra-day high of 35,542.17 points and the Nifty50 of 10,906.85 points.
"The recent rally was undoubtedly dominated by the technology and banking space. The banking stocks got lured on Thursday after the news that the government is mulling allowing 100 per cent FDI in the sector," D.K. Aggarwal, chairman and managing director of SMC Investments and Advisors, said. On the global front, stock markets across the globe rallied on the back of optimism in the US economy and expectations for a strong earnings season, Aggarwal said.
"Investors' interest resumed in the market again after the Goods and Services Tax Council announced cut in the tax rate on 29 goods and 54 categories of services," Arpit Jain, AVP at Arihant Capital Markets, said. "Encouraging Q3 FY18 results by blue-chip firms like HDFC Bank and ITC added to the cheer," he said.
On the investment side, provisional figures from the stock exchanges showed that foreign institutional investors purchased scrips worth ?42.34 billion, while domestic institutional investors divested stocks worth ?6.98 billion.
Figures from the National Securities Depository revealed that foreign portfolio investors bought equities worth ?35.96 bilion, or $563.3 million, during January 15 to 19.
"The announcement of the Ministry of Finance that the government will reduce the additional borrowing of dated securities for FY18 to ?200 billion from ?500 billion that was earlier announced helped alleviate some of the uncertainty," Shibani Kurian, senior vice-president and head of equity research, Kotak Mutual Fund, said. - IANS
In a private address, the Republican presidential candidate attacks prosecutors involved in his criminal indictments
Stronger-than-expected earnings in coming weeks could help allay investor concerns
Fed decision brings bulls back to the market
The Dubai South region is still untouched and offers attractive investment opportunities
Deshpande claimed two wickets and gave away 35 runs in his four-over spell as Chennai, who made 167 for nine, restricted Punjab to 139 for nine
Hill rose to prominence with his portrayal of Yosser Hughes in the acclaimed BBC TV drama 'Boys from the Blackstuff'
The rains have also triggered landslides and the partial collapse of a dam
Oil revenues reached 181.922 billion riyals