BENGALURU: Indian benchmarks closed at record highs on Friday, erasing election-day-related losses, on domestic inflows, political continuity and a projection of faster economic growth.
The NSE Nifty 50 ended 2.05% higher at 23,290.15 points while S&P BSE Sensex, closed up 2.16% at 76,693.36. The Nifty added 3.4% this week, while the Sensex rose 3.7%, recouping all losses made on Tuesday after Prime Minister Narendra Modi’s alliance won the general elections by a surprisingly slim majority.
The Nifty saw its best week since early December, while the Sensex recorded its best week in nearly 2 years.
The recovery rally came as domestic buying overpowered foreign sales and as clarity emerged regarding Modi and his allies forming the government over the weekend.
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