NIFTY, SENSEX close at record highs; TCS, Infosys and Wipro among top gainers

Indian equity benchmark indices hit a fresh all-time high on Friday, with SENSEX and NIFTY50 closing above the 80,500 and 24,500 levels, respectively, for the first time.

The rally in the indices was seen on the back of a sharp surge in the Nifty IT index. The Nifty IT index climbed over 4.5% to record its highest single-day gain in seven months.

Shares of TCS gained over 6.5% to make a fresh four-month high. Infosys also logged a fresh five-month high amid buying interest in IT stocks after the TCS earnings. Meanwhile, the broader markets underperformed the frontline gauge, with the Nifty Midcap 100 and Small-cap 100 indices adding 0.04% and 0.16%, respectively.

In the weekly time frame, the NIFTY50 index formed a third straight bullish candle and a sequence of higher highs and higher lows. Meanwhile, the RSI on the weekly time frame is in overbought territory.

Top gainers & losers

In the NIFTY50 space, 34 stocks advanced, and 16 stocks declined. TCS (+6.59%), Wipro (+4.66%), HCL Tech (+3.30%), Infosys (+3.25%) and Tech Mahindra (+3.04%) were the major gainers. Laggards included Asian Paints (-1.01%), Divi’s Lab (-0.93%), Maruti (-0.91%), Titan (-0.84%) and Hindalco (-0.83%).

Index movers

Coming to the NIFTY50 index pullers and draggers, TCS (+59.3 pts), Infosys (+43.84 pts), Reliance (+25.79 pts), Axis Bank (+13.02 pts), and HCL Tech (+11.93 pts) were the pullers of the day. Draggers included ICICI Bank (-6.29 pts), Bharti Airtel (-4.87 pts), Kotak Bank (-3.49 pts), Maruti (3.47 pts), and Asian Paints (-3.13 pts).

Broader indices

Today, the broader markets underperformed the frontline indices. With marginal gains, the Nifty Midcap 100 gained by 0.04%, and the Nifty Smallcap 100 index closed by 0.16%. Market breadth remained weak on Friday as the declining stocks outnumbered the advancing stocks.

Sectoral Indices

Among sectors, most of the indices closed in green. The top three sectoral gainers were NIFTY IT (+4.53%), Nifty Media (+2.08%), and Nifty Oil & Gas (+0.59%). The top three laggards included Nifty Reality (-1.50%), Nifty Consumer Durables (-0.58%) and Nifty PSU Bank (-0.53%).

Global markets

Most Asian markets concluded Friday's trading on a mixed note, with Hang Seng surging +2.52% and the Shanghai Index closing flat. The Kospi index plunged by 1.20%.

At 3:57 PM, the Dow Jones Futures were trading up by 55 points at 40,143.