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Markets rise for 6th day; Sensex up 70 pts; Nifty ends at 13760; IT stocks gain–Friday.

  • Key indices touched record highs on Friday, with Sensex hitting the 47,000 mark, but soon slipped into the red. However, they erased all losses in the afternoon session to end higher for the sixth day in a row.

Markets end in the green for sixth day in a row

Key equity indices hit record highs on Friday with Sensex touching the 47,000 mark, but soon slipped into the red on profit booking. However, they erased all losses in the afternoon session to end with marginal gains.

Sensex closed at 46,960.69, up 70 points, while Nifty 13,760.55, up 20 points.

IT stocks outperformed through the day with Infosys and TCS leading the pack.

Midcaps and small caps were the under performers in today’s session.

On the Sensex, 17 stocks advanced and 13 declined. BSE Midcap in the red; Cummins, Page Industries best gainers

SBI erases all losses, up 1.5% Oil slips as surge in covid cases threatens demand

Oil prices slid from nine-month highs, with soaring covid-19 cases seen as a threat to near-term fuel demand and a strengthening of the U.S. dollar also having a negative impact.

U.S. West Texas Intermediate (WTI) crude futures slipped 14 cents or 0.29%, to $48.22 a barrel at 0757 GMT, while Brent crude futures fell 20 cents, or 0.39%, to $51.30.

Asian shares end weak on Friday after Reuters reported that the United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist later in the day. European shares slip

European shares inched lower on Friday as doubts over a post-Brexit trade deal and fresh U.S.-China tensions capped gains at the end of a solid week.

FTSE 100 of England was down marginally, CAC of France fell 3.37%, DAX Germany was down 0.2%.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.4% from Thursday’s record. Mainland Chinese shares fell 0.35% while Hong Kong’s Hang Seng lost 0.67%.

Japan’s Nikkei dipped 0.2%, facing strong resistance around 27,000.

Sensex in the green, around day’s high

RITES wins project worth ₹62 crore RITES has secured a project management consultancy work for the development of a greenfield port at Machilipatnam in Andhra Pradesh. The contract is worth ₹62 crore.

HDFC twins, Kotak Bank, RIL biggest contributors to the fall on Sensex

Infosys, TCS hit new highs after Accenture’s results

Shares of Tata Consultancy Services and Infosys touched new 52-week high on NSE on Friday after Accenture Plc announced its first quarter earnings for financial year 2021 (August ending). Post results, Accenture’s shares rose by about 7% in the US on Thursday. The company has revised its revenue growth guidance for FY21 upwards to 4-6% from 2-5% indicated at the time of announcing Q4FY20 results.

More companies in India are expected to line up their initial share sales in 2021, seeking to tap booming investor demand amid a rush of foreign liquidity and stronger-than-expected recovery in Asia’s third-largest economy.

According to industry experts, handsome returns reaped by investors, especially in the retail segment, will likely encourage them to look for more IPO bets next year. Indian firms raised about ₹26,000 crore via share sales this year, more than double that of last resort.

Bank Nifty down 253 points; ICICI bank, Bandhan Bank buck trend

Gold slips: old and silver prices fell today on some profit-taking.

On MCX, February gold futures dipped 0.24% to ₹50,270 per 10 gram, snapping a three-day gain, while silver rates declined 0.6% to ₹67,882 per kg.

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