Indian markets continued their stellar rally supported by positive global cues, with the Nifty and the Sensex ending the day at record highs.
The market breadth, indicating the overall strength of the market was good. On the NSE out of total shares traded 2090 shares advanced, while 1267 shares declined and 171 shares were unchanged. The Nifty ended the day at a new record closing of 14,347.25 points, up 210 points.
"After the blockbuster 2QFY21 corporate earnings season, which was characterized by big beats and upgrades across our coverage universe, 3QFY21 earnings are likely to be healthy. The drivers of earnings are also changing at the margin, with 3QFY21 earnings expected to be led by cyclical sectors like Metals and Cement, even as Healthcare is expected to post another solid quarter. The festive season has aided the demand recovery, and with vaccination against COVID-19 set to begin in the next few weeks in India, we expect demand to sustain further," India Strategy report has said.
Meanwhile, Asian markets ended substantially higher on Friday after stocks on Wall Street cruised to new record highs overnight. Shares of South Korean automaker Hyundai Motor soared following reports of a deal between the firm and Cupertino-based tech giant Apple on developing electric vehicles and batteries.