Mumbai: The market ended at new record closing high on Friday following further fall in crude oil prices after the OPEC decided not to cut output. Hopes of rate cut or indication of rate cut in monetary policy on December 2 also pushed market higher.
The Sensex rose 255.08 points or 0.90 per cent to close at 28693.99 and the Nifty climbed 94.05 points or 1.11 per cent to 8588.25.
About 1499 shares have advanced, 1521 shares declined, and 99 shares are unchanged on the Bombay Stock Exchange.
Punjab National Bank, Bank of Baroda, Asian Paints, State Bank of India, IndusInd Bank, Axis Bank, Tata Motors, Tata Steel and M&M were top gainers, up 2.5-7.4 per cent.
However, Cairn India fell 4.44 per cent followed by Sesa Sterlite with 3 per cent loss. Jindal Steel, Bharti Airtel, ONGC, GAIL and Dr Reddy's Labs declined 0.4-0.9 per cent.
Indian rupee has opened lower by 6 paise at 61.93 a dollar on Friday, compared to previous day's closing value of 61.87 per dollar. Pramit Brahmbhatt, Veracity says investors are likely to trade cautiously today as markets are already trading near all-time high levels & investors are short of confidence & are unsure of market upside. According to him, the rupee is expected to trade rangebound to slightly weak, taking cues from a strong Dollar. "Range for the day is seen between 61.40-62.20/dollar," he adds.
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