Indian shares hit record highs on Friday and the rupee reached a two-month high against the greenback despite geopolitical tensions and uncertainty over U.S. monetary policy.
Global cues were mixed as investors awaited Fed Chairman Jerome Powell’s speech at the Jackson Hole symposium for clues about the timeline for tapering stimulus.
Powell is due to speak at this year’s virtual Jackson Hole summit at 10 a.m. ET after several Fed officials suggested that the easing will take place sooner rather than later.
The benchmark 30-share BSE Sensex ended the session up 175.62 points, or 0.31 percent, at 56,124.72, after having reached a high of 56,188.23 and low of 55,675.87 earlier in the day.
The broader NSE Nifty index rose 68.30 points, or 0.41 percent, to settle at 16,705.20.
Dr Reddy’s Laboratories, Larsen & Toubro, SBI Life, Hindalco and UltraTech Cement climbed 2-3 percent while Tata Consumer Products, IndusInd Bank and Infosys all fell around 1 percent.
Sensex, Nifty Reach Record Highs
2021-08-27 10:52:50
