|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
The Nifty index rose on Friday to its highest in 15 months, as blue chips such as Reliance Industries Ltd and Tata Motors Ltd rallied on continued optimism about additional fiscal and economic reforms.
The gains come a day after India raised taxes on rail fares, while pledging to stick to its planned borrowing target for the year, underlining a resolve to curb its fiscal deficit.
The gains also tracked higher Asian shares on hopes a tough Spain budget was a prelude to an EU aid programme that would allow the European Central Bank to try to reduce its high borrowing costs by buying its bonds.
The BSE Sensex has rallied 7.6 percent in September, its biggest monthly gain since January, following major fiscal and economic reforms from the government and monetary stimulus measures from the Federal Reserve and the European Central Bank.
The BSE index rose 7.6 percent for the quarter, its biggest quarterly gain since the final quarter of fiscal year 2012.
"We don't foresee a major downside in the immediate term looking at the global and domestic scenario," said R.K. Gupta, managing director at Taurus Mutual Fund.
The market will now start discounting second-quarter earnings, which would start trickling in from mid-October, Gupta added.
The BSE Sensex rose 0.99 percent, or 183.24 points, to 18,762.74 on Friday, its highest close since July 25, 2011.
The index, also known as the Sensex, however, gained a marginal 0.05 percent for the week.
The Nifty gained 0.95 percent, or 53.80 points, to 5,703.3 points and added 0.2 percent for the week.
Blue chips rallied, especially in the autos sector. Tata Motors
Reliance Industries Ltd
LIC Housing Finance Ltd
Shares in pharmaceutical companies gained despite a recommendation by a ministry panel to cap drug prices, given the proposal is seen as less hurtful than expected.
Apollo Hospitals Enterprise Ltd
Technology stocks gained after Accenture Plc
Tata Consultancy Services Ltd
But shares in United Spirits Ltd