Markets consolidate at higher levels

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It saw an intra-day movement of about 29.90 points.

The NSE 50-share Nifty index opened higher at 9,129.65 and hovered between 9,158.45 and 9,128.55 before closing at 9,153.70, a rise of 68.90 points, or 0.76 per cent. Positive global cues, coupled with a strong rupee and fresh inflows of foreign funds infused healthy buying sentiments and brought a cheer to the Indian equity markets.

The NSE Nifty slipped by 2.20 points or 0.02 per cent, to close at 9,084.80 points, while the BSE Sensex was marginally down 44.52 points or 0.15 per cent at 29,398.11 points.

Mumbai: The benchmark NSE Nifty on Friday crossed the psychologically significant 9,200-level for the first time during intra-day trade even as the Indian equity markets traded on a flat note as investors turned to book profits.

Some market watchers had recently speculated the Fed could hike rates four times this year as the USA economy gathers momentum.

The rally in markets was mostly driven by policy stance revealed by US Federal Reserve that it will keep interest rates in the range of 0.75 per cent to 1 per cent going ahead in the new fiscal. The Nifty PSU Bank index and Nifty Auto index slid 1.8 per cent and 0.47 per cent after gaining for three and five straight sessions respectively.

Advances outnumbered declines almost 3:1 on the NSE with 1,153 securities out of a total of 1,741 advancing, 490 declining and 98 remaining unchanged.

Buying activity was so strong that all sectoral indices, led by metal and infrastructure, ended in the green.

Remaining net buyers of equities in the current month so far, FIIs on Thursday purchased shares to the tune of Rs 1,360.10 crore, according to provisional data.

The broader markets continued to outperform the benchmark indices.

Among the 30-share Sensex pack, 26 stocks advanced and remaining 5 stocks fell during the week.

Major index gainers were Adani Ports (4.96 per cent), Tata Steel (4.30 per cent), HINDALCO (4.30 per cent), Tata Motors Dvr (2.23 per cent) and Asian Paints (2.21 per cent). Bharti Airtel was the top loser, ending down 0.72% at Rs 360.60.

After the Uttar Pradesh poll results were declared, FPIs have invested more than Rs 6,000 crore in the secondary markets.

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