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The
benchmark indices settled higher on Friday taking cues from their Asian peers.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at a new high of 11,471 levels, up 86 points.Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE. With record inventory, government-owned Food Corporation of India (FCI) wants to expedite foodgrain sales to make warehouse space available for next season’s procurement, as well as to calm the heated market. After record grain output in 2017-18, it saw a sharp rise in rice and wheat procurement with aggressive Minimum Support Price (MSP) buying.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at a new high of 11,471 levels, up 86 points.Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE. With record inventory, government-owned Food Corporation of India (FCI) wants to expedite foodgrain sales to make warehouse space available for next season’s procurement, as well as to calm the heated market. After record grain output in 2017-18, it saw a sharp rise in rice and wheat procurement with aggressive Minimum Support Price (MSP) buying.
