Markets end at record highs; Nifty settles above 9650; Hero Moto top gainer

The benchmark indices ended at record highs on Friday, tracking upbeat trend in global markets, while back home hopes of good southwest monsoon rains also lifted sentiment.

The S&P BSE Sensex ended at 31,273, up 135 points, while the broader Nifty50 closed at 9,653, up 37 points.

In intraday trade, the 30-share Sensex gained as much as 195 points to touch a new high of 31,332, surpassing the previous milestone of 31,220 hit on May 29, while the broader Nifty50 rose as much as 16 points to reach a fresh high of 9,673, scaling last peak of 9,637 hit on May 29.

The broader market outperformed with the S&P BSE Midcap and the S&P BSE Smallcap indices adding 0.7% and 0.5%, respectively.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,449 shares rose and 1,237 shares declined. A total of 164 shares were unchanged.

The Nifty Pharma index (up 1.6%), the top sectoral gainer, advanced for the fourth consecutive session, led by gains in Cadila Healthcare, Cipla, Divi’s Lab, Aurobindo Pharma and Lupin, which rallied in the range of 2-4% on the NSE.

The Nifty Auto Index rose to a record level, rising as much as 0.93% to 10,992.70.

Hero MotoCorp hit a new high of Rs 3,849, up 3% at Rs 3,840 after the company reported 8.7% growth in sales at 633,884 units in May. The country’s largest two-wheeler maker had sold 583,117 units in May 2016. The stock was the top Sensex gainer.

Bharti Airtel climbed as much as 3.9% on receiving approval from the capital markets regulator Sebi and stock exchanges for its merger with Telenor India. The stock settled at Rs 371, up 1%.

TVS Motor rose as much as 5.8% to an all-time high after posting a 16% rise in total sales for May on Thursday, while Hero MotoCorp also climbed 3.1% to hit a record high on strong two-wheeler sales in May. The stock ended flat at Rs 538.

GMR Infrastructure gained over 17.4% to Rs 17.65 in intraday trade after it announced a significant reduction in debt and turned profitable in the March quarter. The stock finished 13% higher at Rs 17.

Here are some picks from the week gone by.

Company: Sun Pharma CMP: 514.95 Mastermind

Company: Aurobindo Pharma CMP: 592.45 Mastermind


Company: Maruti Suzuki CMP: 7110.60 Mastermind

Company: Reliance Communication CMP: 20.70 Mastermind

Company: VST Tillers Tractors Ltd. CMP: 1930 Mastermind

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