The Sensex and Nifty ended at record closing highs on more capital inflows and services PMI data.

Earnings optimism among investors and positive global cues after the appointment of a new US Federal Reserve chief also boosted the domestic sentiment.

The 30-share BSE index touched an all-time intraday high of 33,733.71, breaching its previous record of 33,657.57 hit yesterday. Finally, it closed at a fresh record of 33,685.56 by rising 112.34 points or 0.33 per cent. It broke the previous closing record of 33,600.27 hit on November 1.

Yesterday, the gauge had fallen from record by falling 27.05 points.

Similarly, the 50-share NSE index Nifty touched a fresh high of 10,461.70 intraday, breaking the earlier record of 10,453 reached yesterday. The Nifty ended up 28.70 points or 0.28 per cent at a new peak of 10,452.50, surpassing its previous closing high of 10,440.50 hit on November 1.

For the second straight week, the Sensex rose, recording a significant gain of 528.34 points, or 1.59 per cent. The Nifty was up 129.45 points, or 1.25 per cent, during the week.

Among BSE sectoral indices, capital goods index gained the most by 1.09 per cent, followed by banking 1.00 per cent, PSU 0.64 per cent and realty 0.37 per cent. On the other hand, healthcare index fell 0.56 per cent, power 0.35 per cent, oil & gas 0.16 per cent and metal 0.13 per cent.

Top five Sensex gainers were State Bank of India (+3.19%), Tata Motors (+2.78%), L&T (+1.98%), Axis Bank (+1.87%) and ONGC (+1.78%), while the major losers were PowerGrid (-2.05%), Sun Pharma (-1.95%), Coal India (-1.73%), Hero MotoCorp (-1.23%) and Lupin (-1.1%).

Bank recapitalisation

Investor sentiment has been upbeat in India with the government's recent announcement of a recapitalisation plan for banks.

“Overall, markets can be volatile as they've hit steep levels ... This quarter, results are better than expected,” said Siddharth Sedani, vice president, Head Equity Advisory, Anand Rathi.

Powell to head US central bank

President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the US central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.

Powell, 64, a lawyer and investment banker appointed to the Fed board in 2012 by then-President Barack Obama, emerged as Trump's choice from a slate of possible nominees that included Yellen and others who may have pursued a sharp policy shift.

Asian shares took a breather on Friday as investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve.

MSCI’s broadest index of Asia–Pacific shares outside Japan inched up 0.15 per cent, to be just a whisker from its highest since late 2007. Australia’s main index firmed 0.6 per cent, while China’s blue chips were a fraction softer.

(With inputs from Agencies)

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