Markets set new records on earnings optimism, liquidity

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Despite a sudden sell-off blip following a public attack on the Chief Justice of India by four senior colleagues, the key equity indices of the Indian stock markets on Friday closed at fresh highs with modest gains.

The BSE Sensex gained 88.90 points to end at 34,592.39, while the broader NSE Nifty finished at 10,681.25, up 30.05 points. Similarly, the Nifty touched an intraday high of 10,690.40 and a low of 10,597.

It was a volatile day and last minute buying pushed the index towards fresh closing high on Nifty on Thursday, but most analysts are losing conviction in the Bull run at least in the short term. On the other hand, realty index fell 1.46 per cent, FMCG 0.52 per cent, power 0.47 per cent and healthcare 0.34 per cent.

New Delhi, Jan 12 Shares of TCS today fell by almost 2 per cent after the company said its net profit slipped 3.6 per cent in three months to December.

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Foreign portfolio investors (FPIs) sold shares worth Rs 623.63 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 770.02 crore yesterday, provisional data showed.

For the week, the NSE index added 1.2 per cent, while the BSE index advanced 1.3 per cent.

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