Indian markets surged on Friday morning, hitting a new all-time high. The BSE Sensex closed 352.21 points higher at 37,336.85. Friday is the third straight day the 30-share index has surged. The National Stock Exchange Nifty finished 111.05 points higher at 11,278.35.
The surge in the markets was the result of better-than-expected first quarter earnings reported by several companies such as ITC, Airtel and SBI Life Insurance, on Thursday, and expectation of a positive earnings report from Reliance Industries on Friday, Mint reported.
The top gainers on the Sensex were ITC, Tata Motors, Tata Steel, ICICI Bank and Bajaj Auto. The biggest losers were Power Grid Corp, Adani Ports, Coal India, TCS and Maruti Suzuki.
On the Nifty, the stocks that gained the most were ITC, Indian Oil Corp, Tata Motors, Hindalco and Titan. The top losers were Dr Reddy’s Laboratories, Bajaj Finserv, Adani Port, TCS and Coal India.
Other Asian markets also rose, with the exception of the Shanghai index, which declined by 8 points. The Hong Kong Hang Seng closed 23 points higher, the Australia ASX All Ordinaries 59.30 points and Japan’s Nikkei 225 125.88 points.
The rupee continued to rise against the dollar on Friday. At 3.53 pm, it was trading at 68.70 against the dollar.