Mumbai, Jan 12 (PTI) Benchmarks ended at record highs for

the second straight session today as investors remained

hopeful of upbeat corporate earnings despite lacklustre

numbers from TCS.

The BSE Sensex gained 88.90 points to end at 34,592.39,

while the broader NSE Nifty finished at 10,681.25, up 30.05

points.

The indices suffered a bout of volatility mid-session

following an unprecedented press conference by four senior

judges of the Supreme Court where they mounted a virtual

revolt against the chief justice and listed a litany of

problems afflicting the country’s highest court.

However, buying momentum resumed soon, which propelled

the markets to record levels.

This was the sixth weekly gain in a row for the

benchmarks. During the week, the Sensex gained 438.54 points,

or 1.28 per cent, while the Nifty rose 122.40 points, or 1.15

per cent.

“The market reversed from intraday low amid concerns over

administration of the apex court which had resulted in a

sentimental sell off.

“Positive trade in global market and expectation of

revival in domestic earnings from H1FY18 is upholding the

healthy sentiment. On the other hand, concern over December

CPI inflation and increase in oil prices are likely to add

volatility in the near term,” said Vinod Nair, Head of

Research, Geojit Financial Services.

After opening on a strong footing, the Sensex advanced to

hit a fresh lifetime high of 34,638.42 on the back of

continued buying by domestic funds and retail investors but

later declined to 34,342.16.

It finally settled 88.90 points, or 0.26 per cent higher

at 34,592.39, breaking its previous record closing of

34,503.49 hit in yesterday’s trade.

The broader Nifty, after scaling an all-time high

(intra-day) of 10,690.40 points, finished at 10,681.25, up

30.05 points, or 0.28 per cent.

It surpassed its previous record closing of 10,651.20 hit

yesterday.

Domestic institutional investors (DIIs) bought equities

to the tune of Rs 770.02 crore, while foreign portfolio

investors (FPIs) sold shares worth Rs 623.63 crore on net

basis yesterday, provisional data showed.

TCS slipped 0.56 per cent after the IT major yesterday

reported a 3.6 per cent drop in net profit for the December

quarter at Rs 6,531 crore.

However, Infosys, which announced its results after

market hours today, posted a 38.3 per cent growth in

consolidated net profit to Rs 5,129 crore for the October-

December quarter of 2017-18.

In the Sensex kitty, private lender ICICI Bank emerged as

the best performer with a rise of 2.63 per cent, followed by

Maruti Suzuki at 1.27 per cent.

Other prominent gainers included ONGC, RIL, Dr Reddy’s,

HDFC Ltd, L&T, IndusInd Bank, Tata Motors and M&M, rising by

up to 1.26 per cent.

Sector-wise, the upmove was driven by oil and gas (up

0.69 per cent), banking (0.50 per cent), capital goods (0.48

per cent), metal (0.45 per cent), auto (0.28 per cent), teck

(0.14 per cent), infrastructure (0.14 per cent) and IT (0.03

per cent).

The BSE small-cap index inched up 0.05 per cent as

investors continued their buying activity but the mid-cap

index ended 0.17 per cent lower.

Trading was brisk across global markets. Hong Kong’s Hang

Seng rose 0.94 per cent while Shanghai Composite gained 0.10

per cent. However, Japan’s Nikkei shed 0.24 per cent.

European markets were higher in early trade, with

Frankfurt’s DAX rising 0.16 per cent and Paris CAC 40 up 0.3

per cent. London’s FTSE too rose 0.04 per cent.

This is published unedited from the PTI feed.