Market Now: BSE Midcap index trails benchmark Sensex

Market Now: BSE Midcap index trails benchmark Sensex

Profit booking in IT, tech and telecom counters pulled the index back from record high level.

While the 30-share BSE Sensex soared 135 points to a new all-time high of 34,638.42, the broader 50-share NSE Nifty was at an all-time high of 10,690.25. Among sectoral sub-indices, outperformed with Nifty IT gaining more than 2 per cent. The indexes posted a weekly advance of 1.3% and 1.2% respectively.

Major gainers were ICICI Bank 1.26 percent, Maruti 1.25 percent, Reliance 1.16 percent, L&T 0.69 percent and HDFC 0.58 percent.

For Infosys, the IT major is expected to report a profit for the quarter at Rs 3,609 crore, down 3.14 percent compared to Rs 3,726 crore in previous quarter, according to an average of estimates of analysts polled by CNBC-TV18.

"However, selling pressure emerged in afternoon trade after four Supreme Court judges reportedly said working of the apex Court was not in order".

This is unedited, unformatted feed from the Press Trust of India wire.

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Markets are waiting for more corporate results to flow in to see signs of recovery after the goods and services tax and the withdrawal of high-value bank notes, he added.

Foreign portfolio investors (FPIs) net sold shares worth Rs 303.94 crore while, domestic institutional investors (DIIs) bought equities to the tune of Rs 522.90 crore, provisional data showed.

The BSE Mid-cap and BSE Small-cap indices were up 0.26% and 0.75%, respectively. China reported trade data for December with exports moving up 10.9 percent and imports rising 4.5 percent.

It surpassed its previous record closing of 10,651.20 hit on Thursday.

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