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Nifty ends at record high on negative market breadth, Sensex up 250 points

SI Reporter/Mumbai 13 Oct 17 | 03:34 PM

The benchmark indices extended gains with the Nifty50  closing at record high after Bharti Airtel rallied on a deal to buy the Tata conglomerate’s consumer mobile business, while Reliance Industries surged ahead of its results later in the day.

Markets also got a boost after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the Reserve Bank of India (RBI) would be less hawkish about interest rates.

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The data late on Thursday showed annual consumer price inflation rose to 3.28% in September from a year earlier, in line with August and countering expectations for a 3.6% rate. At the same time, separate data showed industrial output hitting a nine-month high.

Although analysts still expected the Reserve Bank of India to keep rates steady in the months ahead, but further signs of steady inflation would raise the odds of a rate cut.

Overseas, World stocks rose for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar headed for its worst week in five as investors awaited US inflation data.

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Company Price Gain (%)
Sun Pharma.Inds.619.602.98
Bharti Airtel372.051.51
Tata Motors251.150.99
Axis Bank623.850.90


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