Sensex breaches 34K level to 34,192.65 pts, 6-week-high


Agencies, Mumbai The equity market maintained its winning streak for the seventh straight session, as the benchmark index of Bombay Stock Exchange (BSE) spurted by 565.68 points or 1.68 per cent, breaching 34K level at 34,192.65, a six-week-high on strong global cues in the week ended on Friday. The Nifty of National Stock Exchange (NSE) advanced by 149 points or 1.44 per cent at 10,480.60.The market reported decent gains last week as investors appeared confident in view of firm global cues. Shares across the globe rose after a speech by Chinese President Xi Jinping calmed investor jitters over an escalating US-China trade row. As tensions over Syria were seen as a major contributor to weakness during the middle of the week. Trading for the week kicked off on a positive note as BSE sensex rose 161.57 points at 33,788.54. The Nifty 50 index rose 47.75 points at 10,379.35. Key benchmark indices logged modest gains on Tuesday as the Sensex, rose by 91.71 points at 33,880.25. The Nifty 50 index rose 22.90 points at 10,402.25.On Wednesday, it advanced by 60.19 points at 33,940.44. The Nifty 50 index rose 14.90 points or 0.14% to settle at 10,417.15. On Thursday, it rallied another 160.69 points at 34,101.13. The Nifty of National Stock Exchange (NSE) moved up by 41.50 points at 10,458.65. The Sensex reclaimed the crucial 34,000 level in intraday trade.Domestic stocks logged modest gains in a volatile trading session on Friday as the Sensex, gained by 91.52 points at 34,192.65. The Nifty 50 index rose 21.95 points at 10,480.60. Shares of Axis Bank rose 8.23 pc while Kotak Mahindra Bank rose 2.81 pc following reports that Kotak Mahindra Bank could acquire Axis Bank.Among other banks, ICICI Bank was up by 2.71 pc, IndusInd Bank by 2.48 pc and HDFC Bank by 0.28 pc. While Yes Bank was down by 1.53 pc and State Bank of India by 3.31 pc. IT major Infosys rose 3.52 pc. The company announced after market hours Friday that consolidated net profit fell 28.1 pc to Rs 3,690 crore on 1.6 pc increase in revenues to Rs 18,083 crore in Q4 March 2018 over Q3 December 2017. The result are under International Financial Reporting Standards (IFRS).