Nifty breaches 10,900-mark; Sensex ends at 35,511 on Friday
The S&P BSE Sensex ended at a new high of 35,511 and the NSE index breached the 10,900 mark for the first time.
On Friday, the Indian markets closed at an all-time high. The sensex surged 251 points during the day and closed at 3,5511 while the Nifty rose 77 points to close at 10,894.
The week was the best for trading in recent times. The Sensex posted a rise of 919 points, (plus 2.65%) while the Nifty gained 213 points, (1.99%) in the week.
Many brokerage firms gave buy signals to their clients throughout the week. "Markets are slightly overbought, but still there's no sign of slowing down," Jayanth Mangalik of Religare said.
The Banking sector was the main driver during the week as the Banking index rose to 4.5%. State Bank, Yes Bank, and ICCI were the major gainers.
Indian economy surges on all indicators:
— BJP (@BJP4India) January 19, 2018
• Digital transactions crossed 1 billion in a month for the first time
• Sensex hits 35,000 mark
• Highest ever jump in ‘Ease of Doing Business’ ranking of the World Bank
• Core sector growth hits 13-month high in November 2017 pic.twitter.com/kgC4g3Rtlv
Global markets
The global markets also ended on the higher side on Friday.
European stocks popped a 10-year high as investors continued to pump in money, with France's CAC, Germany's DAX, and Britain's FTSE climbing around one percent at mid-afternoon. Almost all the Asian markets ended in green.
Oil prices decline
Oil prices dropped on a bounce-back in US production, but the ongoing declines in crude oil controlled disasters in the market.
The Brent crude futures remained at USD 68.73, down by 53 cents from their previous close. On Monday, the oil prices hit maximum since Dec. 2014 at $70 a barrel.