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Sensex, Nifty Extend Record Run, Banking Stocks In Limelight

IndusInd Bank, Yes Bank, Axis Bank, ONGC, Cipla, Tech Mahindra and L&T were among the top gainers on Nifty50.
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Foreign funds inflows continued amid encouraging earnings and mixed global cues (Representational image)
Foreign funds inflows continued amid encouraging earnings and mixed global cues (Representational image)
Indian stocks jumped to new peaks on Friday, with the BSE benchmark index Sensex rising 119.36 points to 33,692.58 and the NSE Nifty touching 10,461.70. Gains were led by realty, infrastructure and consumer durables - rising between 0.7 per cent and 0.9 per cent in late morning deals. News that Federal Reserve Governor Jerome Powell would be the new head of the Federal Reserve, the US central bank, was well flagged, but still something of a relief. Investors also took keen interest in the unveiling of tax reforms by House Republicans in Washington.

Banking sub-indices rose around 0.5 per cent in intraday trade. IndusInd Bank, Yes Bank, Axis Bank, ONGC, Cipla, Tech Mahindra and L&T were among the top gainers on Nifty50.

Foreign funds inflows continued amid encouraging corporate earnings and mixed global cues.

Shares in the other Asian markets also supported. Asian shares took a breather on Friday as investors gave a guarded greeting to Republican plans for massive US tax cuts, while welcoming the appointment of a sober centrist at the helm of the world's most powerful central bank. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent, to be just a whisker from its highest since late 2007.

Australia's main index firmed 0.4 per cent, while China's blue chips were 0.5 percent lower.

The US Dow Jones Industrial Average closed 0.35 per cent higher overnight.

At 11:46 am, 23 scrips on the Nifty50 were trading in the positive zone. The Nifty was up 13.10    points, or 0.12    per cent, at 10,436.90. The BSE benchmark index was up 46.90 points, or 0.14    per cent, at 33,620.12.

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