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Sensex hits historic high as rally continues for 11th consecutive day

The Indian equity market indices extended its record breaking streak on Friday   amid volatility,with the Nifty crossing 20,200 for the first time amid mixed trend on the sectoral front.Nifty advanced for the third session,whereas Sensex rose for the 11th day, the longest streak of gains since October 2007.At close, the Sensex was up 319.63 points or 0.47 percent at 67,838.63, while the Nifty gained 89.25 points or 0.44 percent at 20,192.35.
Amid supporting global cues, local indices opened at record highs and remained in positive territory, with some profit booking witnesses during the session. However, in the final hour the indices touched fresh record highs led by auto, IT, and Banks.
Stocks and Sectors
Bajaj Auto, Grasim Industries, M&M, Hero MotoCorp and Bharti Airtel were the top gainers om the Nifty,while losers included BPCL, Asian Paints, HUL, Jio Financial and Tata Consumer Products.
Mixed trend was seen on the sectoral front,with FMCG, oil & gas, power and realty down 0.4-1 percent, while auto, bank, pharma, information technology rose 0.3-1 percent.
For the week, the BSE Sensex and Nifty50 rose nearly 2 percent each and touched fresh record highs of 67,927.23 and 20,222.45, respectively, on September 15.
On 15 Sep'23 ,the Indian rupee depreciated 16 paise to close at 83.19 against the US dollar dragged by a stronger greenback overseas and rising crude oil prices.
Experts Take:
Market experts have recommended six stocks to buy or sell for Friday- United Spirits, Lupin, Indus Tower, ZEEL, UPL and PNB Housing Finance.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat) 


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