Nifty flies to record high, Airtel leads from the front


Among individual share moves, Bharti Airtel rose as much as 9.2 per cent to its highest since August 29 and was the top percentage gainer on both Nifty and Sensex, while Tata Teleservices (Maharashtra) Ltd jumped 9.9 per cent.

The Nifty50 closed at a new high of 10,167.45 points, surpassing its previous closing high of 10,153.10 points scaled on September 18. 30-share BSE Sensex closed on 32,432.69, up by 250.47 points while the 50-share NSE Nifty surged by 71.05 points to end on a record closing of 10,167.45. "Positive macro-economic data also aided sentiment today".

The NSE index Nifty was trading up by 43.25 points, or 0.42 per cent, at 10,139.65.

Indian equities continued to gain for the second day on Friday. So the markets are waiting for the Sensex to cross the new highs made in August.

The banking sub-index of NSE - Nifty Bank - jumped over 1.5 per cent to 24,769.55, as investors rushed to buy banking stocks rate cut hopes.

Stocks add another week of gains, as earnings kick off
The Nasdaq Composite index rose 0.2% to 6,606 on Friday, and 0.2% on the week for a third weekly gain in a row. USA stocks closed lower on Thursday as Wall Street digested earnings from some of the top financial companies.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. "Better IIP figures have given reasons for investors to resume buying, pushing behind fears of soft corporate numbers".

The data, which come out late on Thursday, showed annual consumer price inflation rose to 3.28 percent in September from a year earlier, in line with the August number, Business Standard reported.

"Reliance Industries hit record high for the second day in a row ahead of its September quarter earnings due later in the day post-market hours", Desai told IANS.

Major Sensex losers were: Dr. Reddy's Lab, down 1.18 per cent at Rs 2,351.90; Mahindra and Mahindra, down 0.95 per cent at Rs 1,326.40; Sun Pharma, down 0.87 per cent at Rs 534.70; ITC, down 0.43 per cent at Rs 265.85; and Maruti Suzuki, down 0.41 per cent at Rs 7,872.20. On the other hand, healthcare index was down 0.29 per cent, FMCG 0.25 per cent, capital goods and oil & gas 0.14 per cent each.