Nifty zooms to all-time peak 10167, Sensex rallies 250 pts

Mindy Sparks
October 13, 2017

Buying activity picked up momentum on positive economic data after industrial production grew to a 9-month high of 4.3 per cent in August while retail inflation came in at 3.28 per cent in September, unchanged from August.

The Sensex closed at 32,182.22 points - up 348.23 points, or 1.09 per cent - while the Nifty50 surged by 111.60 points, or 1.12 per cent, to close at 10,096.40 points.

India's consumer price inflation held steady in September, defying expectations for an acceleration, preliminary data from the Central Statistics Office showed Thursday. The index was up 1.81 per cent for the week.

The 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,432.69 points - up 250.47 points, or 0.78 per cent, from its previous close. On Friday, metal stocks led the rally with the Nifty Metal sub-index gaining more than a per cent. Hong Kong's Hang Seng, however, was down 0.16 per cent. About 1,428 shares declined against 1,297 advancing shares on the BSE. On Thursday, the company announced it will absorb Tata Group's mobile phone business in a "cash free, debt free" deal.

Upbeat second-quarter results pushed the shares of Tata Consultancy Services Ltd (TCS) to their highest since June 7.

The benchmark 10-year bond yield fell 2 basis points to 6.73 percent on Friday, while the rupee strengthened to 64.87 per dollar from its 65.09 close on Thursday on hopes steady inflation would continue to attract foreign investors to Indian markets. While quarterly profit slid marginally year-on-year, analysts say margin recovery was the key positive.

In the primary market, state-owned General Insurance Corporation of India (GIC Re) got fully subscribed on the last day of its IPO subscription, reporting high demand from qualified institutional buyers (QIBs).

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent, having gained 3.6 percent so far this month.

Other reports by Iphone Fresh

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