India's Sensex extends record gains; United Spirits surges 18%

The Sensex on Wednesday surged 1.33% to close at a record 33,042.50 points while the Nifty PSU bank index jumped 29.63% its biggest single day gain. Graphic Mint

The NSE Nifty50 slipped by 21 points or 0.20 per cent to close at 10,323.05 points.

The benchmark indices on Thursday closed at all-time highs supported by banking and infra sector stocks on the back of government's Rs 2.11 lakh crore public sector bank's recapitalisation plan and Rs 7 lakh crore allocation for building highways across the country.

"Markets zoomed higher on Wednesday to close at new life highs. The Sensex settled above the psychologically important 33,000 level for the first time in history".

The Sensex and Nifty opened higher on Friday.

Biggest losers in the 30-share index were Housing Development Finance Corporation (1.90%), Power Grid Corporation Of India (1.65%), Asian Paints (1.38%), HDFC Bank (1.33%), Dr Reddy'S Laboratories (0.74%), and Sun Pharmaceutical Industries (0.71%).

On bank-specific basis, SBI's scrip gained Rs 70.20 or 27.58 per cent to Rs 324.70 per equity share. We look at key developments affecting the market today.

On the currency front, the rupee weakened by 22 paise to close at 65.05 against the United States dollar from its previous close at 64.82-83.

On the other hand, the S&P BSE banking index receded by 233.70 points and oil and gas index declined by 191.25 points while the telecom index inched-down by 84.14 points.

The gainers were Adani Ports by 4.55 pc to Rs 432.85, Tata Motors DVR by 2.65 pc to Rs 236.65, ONGC by 2.62 pc to Rs 181.95 and Kotak Bank by 2.35 pc to Rs 1042.70.

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