Bullish Markets lift Sensex 308 pts, Nifty to fresh record

Mumbai: Rising for the sixth session on the trot, the NSE Nifty closed at a fresh lifetime high on Friday, powered by a robust rally in index heavyweight Reliance Industries.

The rupee's rising streak and daily COVID-19 cases falling below the 2-lakh mark also spurred bullish sentiment, traders said.

The Nifty surged 97.80 points or 0.64 per cent to finish at 15,435.65, closing at a record high for the second straight day.

The 30-share BSE Sensex ended 307.66 points or 0.60 per cent higher at 51,422.88.

Reliance Industries hogged the limelight in Friday's session, topping the Sensex gainers' chart with a jump of 5.90 per cent.

M&M spurted 2.13 per cent after the homegrown auto major swung into black in the March quarter with a profit after tax (PAT) of Rs 163 crore.

HDFC twins, Kotak Bank, IndusInd Bank, ITC and Bharti Airtel were among the other gainers, climbing as much as 1.47 per cent.

On the other hand, Sun Pharma, Bajaj Finserv, Nestle India, ICICI Bank, Axis Bank and Dr Reddy's were among the laggards, tumbling up to 4.30 per cent.

During the week, the Sensex rallied 882.40 points or 1.74 per cent, while the broader Nifty surged 260.35 points or 1.71 per cent.

BSE energy, oil and gas, telecom, metal and finance indices rallied up to 4.35 per cent, while healthcare, power, utilities and consumer durables were in the red.

Broader BSE midcap and smallcap indices underperformed the benchmark, dropping up to 0.48 per cent.

World markets remained upbeat following reports that US President Joe Biden will unveil a huge USD 6 trillion budget for 2022 as the economy emerges from the COVID-19 lockdown.