ITC’s 2% gain steers Nifty 50 to record close, Sensex adds 284 points; Yes Bank, SBI up 3%

Share Market Today: Indian stock markets (Sensex and Nifty) finished higher on Friday with BSE Sensex closing 284 points higher and NSE Nifty 50 marking a record closing high led by the sharp rally in the shares of ITC, SBI, Yes Bank, HUL, ICICI Bank, Infosys and Kotak Mahindra Bank. Shares of ITC were the biggest positive points contributor to the key equity indices Sensex and Nifty on Friday. Indian stocks inched up further in the late afternoon deals with BSE Sensex reclaiming 38,000 and NSE Nifty nearing its all-time high following the sustained uptick in ITC and ICICI Bank shares.

Shares of Manpasand Beverages, Rajesh Exports, Federal Bank and Vaknragee were the biggest losers among the ‘A’ group of BSE on Friday losing more than 3%. All the sectors of NSE ended in positive territory with Nifty PSU Bank (up 3%), Nifty FMCG (up 1.88%), Nifty Metal (up 1.56%) leading the charge.

The domestic stock markets extended morning gains in the afternoon session on Friday with blue-chip shares of ITC, Axis Bank and Sun Pharma hitting their respective 52-week highs. Indian equities started on a positive note on Friday with BSE Sensex opening up 235 points as all the constituent stocks of BSE Sensex started in green while NSE Nifty opened well above 11,400 level at 11,437.15.

In the early dealings, shares of Reliance Industries, ITC, HDFC Bank, HDFC, ICICI Bank, Infosys were the major positive points contributors to the headline indices Sensex and Nifty. Asian shares fell Thursday after deepening worries about global economic growth, particularly in China, set off a rout on Wall Street, AP said in a report.

Earlier yesterday, US stocks rebounded with the Dow posting its biggest percentage gain in over four months, as positive earnings and waning trade jitters buoyed investor confidence, a Reuters report said. The Dow Jones Industrial Average rose 396.32 points or 1.58% to 25,558.73, the S&P 500 gained 22.32 points, or 0.79% to 2,840.69 and the Nasdaq Composite added 32.41 points or 0.42% to 7,806.52.

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