The benchmark equity indices Sensex and Nifty traded nearly a percent higher on Friday, tracking firm global cues and buying interest in index heavyweights.
The Nifty settled at a fresh high of 26,328.55, up 182 points or 0.7 percent, while the Sensex advanced 573.41 points or 0.67 percent to 85,762.01.
Hindalco Industries, Coal India and Bharat Electronics were the top gainers in the Nifty50 pack, rising up to 2 percent, while ITC and Bajaj Auto were the major laggards, declining up to 4 percent. Market breadth was positive as about 2183 shares advanced, 1204 shares declined and 165 shares unchanged.
Technical Analysis
Devarsh Vakil, Head of Prime Research at HDFC Securities, said a sustained move above 26,234 could signal a breakout from the current consolidation phase and open the way for a retest of record highs. He added that the 25,900 level is likely to act as immediate short-term support for the index.
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