The benchmarks for Indian shares reached new all-time highs on Friday as investor optimism strengthened in the wake of positive economic data from the United States that allayed concerns about a downturn.
The midcaps and smallcaps traded around 52-week highs and new records, respectively.
With high-weightage financials climbing 0.74%, all 13 of the major sectoral indexes saw advances.
The rise in some Adani group stocks and financials on Wednesday helped India’s prestigious Nifty 50 and Sensex indexes reach new highs.
Since September 2021, the Nifty 50 has increased by almost 9% so far this quarter, and it is expected to record its best quarter this year.
Overnight, Wall Street stocks increased as confidence strengthened as a result of positive economic data. Recession fears were allayed by an upward revision to first-quarter GDP, a surprising decline in unemployment claims, and encouraging results from the U.S. Federal Reserve’s stress test.