Stocks continue record run on macro data, earnings optimism

Carla Harmon
January 15, 2018

Shares of Infosys, down 0.4%, were the worst hit on the Nifty 50, while those of ICICI Bank, up 2.5%, led the gains. Healthy buying was seen in banking, consumer durables and finance stocks.

Indian shares rose sharply to close at fresh record highs on Monday, with firm cues from global markets and strong industrial output data boosting sentiment.

The BSE index still closed with a jump of 250 points as it finished on 34,843.51, a new closing high. too finished on closing high of 10,741.55, up by 60.30 points. Gains in other Asian markets have encouraged corporate earnings.

Foreign portfolio investors (FPIs) sold shares worth Rs 158.16 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 696.25 crore last Friday, provisional data showed.

Hong Kong's Hang Seng however shed 0.23 per cent to end its record rally in new year but investors were optimistic over the index breaching its 2007 life time high.

Selling of the American currency by exporters supported the rupee, forex dealers said. On Friday, the rupee had ended higher by a modest three paise at 63.63 against the United States dollar in a highly volatile trade.

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