Sensex ends at record high, Nifty settles over 10,550 for first time ever

Benchmark indices ended at new closing high on Friday, tracking global equity markets on the back of robust economic data.

The S&P BSE Sensex ended at new closing high at 34,153, up 184 points while the broader Nifty50 index settled above 10,550 for the first time ever. It ended at 10,558, up 54 points.

Shares of telecommunication companies were in focus with the S&P BSE Telecom index rallying more than 3% on BSE, trading close to its record high.

Idea Cellular, Bharti Airtel, Reliance Communications (RCom), Tejas Networks, GTL, GTL Infrastructure, Aksh Optifibre and Sterlite Technologies from the telecom index have surged up to 12% on BSE in intra-day trade.

Subros hit an all-time high of Rs 347, up 11% on BSE in intra-day deal, after the company announced that it has started supply of blower for trucks to its customers include Tata Motors and Ashok Leyland.

Shares of cement companies were trading higher for the second straight day on expectations of an increase in demand on the back of pick up in the affordable and rural housing segments. Prism Cement, Deccan Cements, Orient Cement, Panyam Cement and Gujarat Sidhee Cement were up in the range of 5% to 12%, while Star Cement, India Cements, HeidelbergCement India, Sanghi Industries and Shree Cement up 2% to 4% on BSE on Friday.

Idea Cellular soared 9% to Rs 114 on BSE after the board approved fundraising of up to Rs 3,250 crore through issue of shares to promoter group companies via preferential issue at Rs 99.50 per share.

Varun Beverages has rallied 9% to Rs 750 on BSE in early morning trade after the company and PepsiCo India decided to enter into a strategic partnership for Tropicana. Varun Beverages (VBL), a key player in the beverage industry, on Thursday after market hours announced that it has further deepened its relationship with PepsiCo by entering into a strategic partnership for the larger Tropicana portfolio along with Gatorade and Quaker Value-Added Dairy in territories across North and East India.

Yes Bank was the biggest gainer among Nifty 50 stocks, rising 5 percent followed by Bajaj Finance, Adani Ports, IndusInd Bank and Bharti Airtel that gained more than 3 percent.

HDFC, TCS, Eicher Motors, Tata Steel and Indiabulls Housing Finance among others rallied more than 1 percent whereas Bharti Infratel and Hindalco lost over a percent.

Liquor stocks gained momentum today after GM Breweries’ stellar Q3 earnings. The stock was locked at 20 percent upper circuit while United Spirits, Radico Khaitan, Globus Spirits and Pincon Spirit gained 4-10 percent.

IFCI was up 4.8 percent after reports that the company invited bids to sell 4 percent stake in Clearing Corporation of India by January 19. Reliance Communications gained 2 percent as China Development Bank has withdrawn its insolvency plea against the company.

Bharat Forge rose 1.5 percent on strong North America Class 8 truck orders. Indian Overseas Bank rallied 4.5 percent as the bank will utilise its balance available in the share premium account amounting to Rs 7,650.06 crore to write off the accumulated losses.

Here are some picks from the week gone by.

Company: Punj Llyod CMP: 26.60 Mastermind

Company: State Bank of India CMP: 307.25 Mastermind

Company: Titan Company CMP: 909.00 Mastermind

Company: Voltas Ltd. CMP: 646.00 Mastermind

Company: NOCIL Ltd. CMP: 227.50 Mastermind

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