Stocks

Sensex ends at 5-month high; Sun Pharma, HDFC Bank stocks spurt

Our Bureau Agencies Mumbai | Updated on January 13, 2018 Published on February 17, 2017

sensex

The Sensex and Nifty closed at their highest in nearly five months on Friday, posting their fourth consecutive weekly gain, driven higher by financial stocks such as HDFC Bank, which hit a record intraday high.

The benchmark BSE index closed 167.48 points or 0.59 per cent higher at 28,468.75. It was up 0.47 per cent on the week.

The broader NSE index rose 43.7 points or 0.50 per cent to 8,821.70.

It made a weekly gain of 0.32 per cent.

Both indexes posted their fourth consecutive weekly gains.

HDFC Bank

HDFC Bank, which rose as much as 9.5 per cent in early trade, however pared gains after the Reserve Bank of India banned fresh buying by foreign investors in the company following a temporary relief on Thursday.

Pharma stocks also rose with Sun Pharmaceutical Industries among top percentage gainers.

Idea Cellular, BHEL

Meanwhile, the operator of the NSE index had said on Thursday it would add Indian Oil Corp and Indiabulls Housing Finance as new constituents from March 31 and drop Idea Cellular Ltd and Bharat Heavy Electricals Ltd.

Idea Cellular fell 3 per cent, while BHEL was down more than 1 per,cent.

Sectoral indices

Among BSE sectoral indices, healthcare index gained the most by 1.64 per cent, followed by oil & gas 1.38 per cent, banking 1.21 per cent and consumer durables 0.45 per cent. On the other hand, IT index was down 1.02 per cent, TECk 0.86 per cent, metal 0.68 per cent and auto 0.06 per cent.

Top five Sensex gainers were Sun Pharma (+4.03%), HDFC Bank (+3.75%), Cipla (+1.58%), Tata Motors (+1.53%) and ICICI Bank (+1.52%), while the major losers were TCS (-1.58%), Hero MotoCorp (-1.29%), Infosys (-1.21%), Wipro (-1.1%) and Asian Paints (-0.91%).

Asian shares

Asian stock markets took a breather on Friday from their recent surge as investors booked profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices.

MSCI's broadest index of Asia-Pacific shares outside Japan pulled back 0.1 per cent, on track to end the week up 1.3 per cent, its fourth straight weekly gain.

US stocks

The Dow Jones Industrial Average scored its sixth straight record high on Thursday, but just barely, while the S&P 500 edged lower due to declining energy stocks.

The Dow Jones Industrial Average ended up 0.04 per cent to close at 20,619.77, its sixth straight record-high close. The S&P 500 had lost 0.09 per cent to 2,347.22 and the Nasdaq Composite dropped 0.08 per cent to 5,814.90.

Published on February 17, 2017
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