Nifty hits a new record, F&O rollovers signal momentum

Stellar growth in the second quarter and positive cues from state exit polls lifted the Nifty to a new record on Friday, while the Sensex came within kissing distance of its all-time high.

- Ram Sahgal

The Nifty hit a record 20,291.55 during the day, before slipping somewhat to close at an all-time high of 20,267.90, up 0.67% from its previous close. The Sensex rose 0.74% but missed hitting its all-time high, closing at a 10-week high of 67,481.19.

Analysts expect the momentum to continue with demand outstripping supply, as witnessed last week when five public share sales to raise ₹7,378 crore attracted bids worth a whopping ₹2.6 trillion.

The Indian economy expanded 7.6% in the second quarter, Thursday's data showed, beating expectations by a wide margin. Meanwhile, exit polls for assembly elections suggested the Bharatiya Janata Party (BJP) might win Rajasthan and put up a strong fight in Madhya Pradesh.