INSUBCONTINENT EXCLUSIVE:
Stock markets continued their gains to a sixth straight day, with BSE benchmark index Sensex closing 352 points higher at 37,336 on Friday
That marked the first ever closing above the 37,000 level by the 30-scrip BSE index
The NSE Nifty jumped 111 points, or 1 per cent, to settle at 11,278
With that, both key indices registered fresh record closing highs
Gains on Friday were led by buying witnessed in banking, FMCG and metal stocks
Punjab National Bank (PNB), ICICI Bank, Axis Bank and IDFC Bank shares rose around 2-3 per cent each.Heavyweights Reliance Industries and
ICICI Bank closed 1.6 per cent and 2.3 per cent higher, ahead of earnings announcements due later in the day.The Nifty FMCG index closed
with a gain of 2.4 per cent
The index was led higher by ITC shares, which settled more than 5 per cent higher after hitting a 52-week high in intraday trade.Friday also
marked the opening of the fresh derivatives series, a day after expiration of the July series
The markets will now turn focus on the Reserve Bank of India (RBI) policy statement slated for release on Wednesday, say analysts."Markets
won't necessarily react negatively if there is a rate hike with positive commentary from RBI," news agency Reuters cited Anita Gandhi,
continue its bullish trend with upside of another 100/150 points on Nifty levels in the near term."Bharti Airtel shares closed 1.3 per cent
higher, after hitting a three-week high during the session
On Thursday, the company had confirmed acquisition of US aluminium processor Aleris Corp for $2.6 billion by its unit, Novelis
