Markets close at fresh highs; metals, pharma stocks gain

After a tepid opening, Indian benchmark equity indices gathered momentum during the day to end at fresh record highs on Friday. Sensex settled 175.62 points or 0.31% higher at 56,124.72, while the broader NSE Nifty gained 68.30 points or 0.41% to close at a record 16,705.20. UltraTech Cement, closing over 3% higher, was the top Sensex gainer followed by L&T, Dr Reddy’s, Bajaj Finserv, Sun Pharma, TCS and Kotak Bank. Infosys, IndusInd Bank, M&M, Nestle India and HCL Tech were among the laggards. All sectoral indices on the NSE ended in the green. Nifty Pharma, closing over 1.5% was the top sectoral gainer followed by Nifty Pharma, Nifty Media and Nifty IT. Overall, market breadth was positive as 1,917 stocks on the BSE advanced, while 1,284 declined and 137 remained unchanged. In Asia, stock exchanges in Shanghai and Seoul closed with gains, while Hong Kong and Tokyo ended in the red.