Nifty brings up a fresh closing peak, ITC in sweet spot
Summary
The new-found optimism spurred stocks to new levels as the Nifty ended at a new peak of 9,160 on Friday and the Sensex notched up minor gains, with liquidity giving investors enough confidence. Buying activity picked up after the GST Council yesterday paved the way for rollout of the new tax regime from July, triggering interest in FMCG stocks. However, global markets showed some weakness as Asian bourses struggled and caution prevailed following the previous day’s rally. The BSE gauge had gained 187.74 points in previous session, tracking firm global markets after the prospects of a gradual approach to US rate hike removed a big uncertainty. “Markets continued to move upwards for yet another session on the back of robust foreign fund inflows, powered by BJP’s huge win in UP and Uttarakhand,” said Deepak Pahwa, a Delhi-based stock broker.