Markets continued their bull run to settle at fresh closing highs on Friday with the S&P BSE Sensex scaling past the 31,000-mark and the broader Nifty50index hitting 9600-mark for the first time ever as higher derivatives rollover led to strong follow-up buying in index heavyweights on the first day of June series.
Settling at fresh closing high, the 30-share Sensex ended at 31,028, up 278 points. The index was up 1.8% for the week. On the other hand, Nifty50 also ended at new peak of 9,595, up 85 points with a weekly gain of 1.7%.
Both frontline indices peaked fresh highs at intra-day level also. The S&P BSE Sensex rallied as much as 324 points to hit its new high of 31,074 surpassing its previous peak of 30,793 reached yesterday, while the broader Nifty50 gained 95 points to touch its fresh high of 9,592, overriding the previous milestone of 9,432, hit on May 17.
Broader market outperformed benchmark indices with the S&P BSE Midcap and the S&P BSE Smallcap indices gaining 2% and 1.6% respectively.
The benchmark indices on Friday settled lower as investors booked profits in index heavyweights such as ITC and HDFC ahead of a long weekend, but posted their biggest weekly gain in six weeks.
The S&P BSE Sensex ended at 29,918 down 111 points, while the broader Nifty50 closed at 9,304, down 38 points.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices outperformed to gain 0.2% and 0.6%, respectively.
The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,479 shares fell and 1,386 shares rose. A total of 136 shares were unchanged.
Nifty Realty index (down 1.7%) was the leading sectoral loser, led by losses in Prestige (down 4%) and Delta Corp (down 4%) and Indiabulls Real Estate (down 3%).
The Nifty Bank pared entire intraday losses to settle 0.1% higher.