INSUBCONTINENT EXCLUSIVE:
Thirty eight stocks on the 50-scrip NSE Nifty finished the session in the positive zone
The Sensex and Nifty closed at three-month highs on Friday, one day ahead of polling in
Karnataka assembly elections
The BSE benchmark index rose 289 points to close at 35,535 while the NSE Nifty settled at 10,806, up 89 points
Advances were led by strong buying seen in banking, metal, energy and capital goods shares, with the NSE sectoral sub-indices rising more
Domestic shares took positive cues from shares in other Asian markets, where equities tracked an overnight rally in the US
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent.Thirty eight stocks on the 50-scrip NSE Nifty finished the
session in the positive zone
Among the top gainers were Asian Paints, HPCL and Vedanta, closing with gains of between 2.5 per cent and 5.5 per cent."The direction of the
markets in a particular session at the moment is determined by specific stock movements due to results
This is because the markets are rangebound," said Rakesh Tarway, head of research at Reliance Securities.Investors will also be keenly
Results will be declared later that day."Till the Karnakata election results are announced, expect the markets to turn a little volatile,"
Tarway added.Asian Paints Ltd hit a record high on strong March-quarter results and was among the top contributors to index gains.ICICI Bank
ended over 1 per cent higher, as private banks registered a third straight week of gains.Overnight in the US, soft inflation data indicated
that the Federal Reserve - the central bank of the world's largest economy - may not increase interest rates at a faster pace
US consumer prices rose less than expected in April, indicating a moderate rise in inflation which could allow the Federal Reserve to
continue gradually raising interest rates.Bharti Airtel Ltd and Idea Cellular Ltd fell 6 per cent and 12 per cent, respectively, a day after
rival telecom company Reliance Jio Infocomm launched a new post-paid plan
During the session, Idea fell to its lowest in over seven years.Fortis Healthcare fell 3 per cent, a day after the board of directors of the
hospital chain accepted an investment offer from a consortium involving Hero Enterprise Investment Office and the Burman Family Office.(With
