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NEW DELHI: After losses in Thursday’s session, domestic equity market made an impressive rebound today, as the NSE benchmark Nifty closed at an all-time high on improvement in global cues after China said it would hold talks with the US later this month on their trade dispute.
Global stocks rose, riding the wave of optimism over US-China trade talks.
However, most emerging markets, including Shanghai SE Composite Index, suffered losses on Friday.
With Turkish lira slumping further, the currencies of other emerging markets too came under pressure.
India's money and forex market were closed on Friday on account of Parsi New Year.
Healthy buying in bank, metal and FMCG stocks amid sustained capital inflow lifted market higher.
Foreign inflows in August stood at Rs 2,400 crore so far this month, higher than the Rs 2,264 crore during July.
The NSE Nifty scaled record closing high of 11,470.75, surging 85.70 points or 0.75 per cent.
Sensex soared 284.32 points, or 0.75 per cent, to settle at 37,947.88.
Among the 50 stocks in the Nifty pack, 35 ended the day in the green and 15 in the red.
The Sensex pack witnessed 21 stocks settling in positive zone and 10 losing out.
For the week, Nifty inched up by 0.36 per cent, while Sensex clocked a small gain of 0.20 per cent.
Broader BSE Midcap and Smallcap indices ended slightly better than Sensex on Friday, closing 0.88 per cent and 0.94 per cent up, respectively.
ITC, ICICI Bank, State Bank of India, Hindustan Unilever and YES Bank emerged as the top five contributors to the rally in the Sensex.
On the other hand, Maruti Suzuki, Hero MotoCorp, HDFC, ONGC and Coal India stood as the top five drag on the equity benchmark.
Shares of Maruti Suzuki fell after the auto major had hiked prices of its vehicles by up to Rs 6,100, effective August 16.
Most sectoral indices remained in the green, barring BSE Oil Gas index, that slipped by 0.15 per cent on losses in a majority of components, including GAIL and ONGC.
World stocks rose on Friday as news of plans for US-China trade talks soothed nerves over their tariff war, while the recovery in Turkey's lira ran out of steam, Reuters reported.
