Sensex, Nifty just shy of record highs ahead of G 20 summit

On Friday, the Sensex was up 333.35 factors, or 0.50 p.c at 66,598.91, and the Nifty was up 93 factors, or 0.47 p.c, at 19,820 because the markets closed for the week ahead of the G-20 summit.

Benchmark Indices ended the week on Friday just just a few share away from record highs ahead of the G20 Summit buoyed by good help from the Bank Nifty on optimistic newsflow from the RBI in addition to the PSU & Infrastructure shares, says S Ranganathan, Head of Research at LKP Securities.

Ranganathan mentioned that regardless of a poor monsoon, the temper available in the market was optimistic as PSU shares throughout sectors exhibited optimistic investor urge for food.

Vinod Nair, Head of Research at Geojit Financial Services mentioned international markets stumbled as they processed August’s jobless claims information from the US and the rise in fuel costs as a consequence of strikes in Australia, rekindling additional slowdown.

The home market, nonetheless, showcased its resilience as soon as extra by rallying, seemingly unfazed by international misery indicators.

Although promoting was seen in IT and pharma shares as a consequence of weak international cues, the positive aspects in infra, industrial, and capital items shares as a consequence of improved order inflows coupled with the persistent choice for mid- and small-cap shares contributed to the continuing rally, he mentioned.

(with inputs from IANS)