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Weekly Wrap, Sensex, Nifty close higher, post weekly gain

Sensex and Nifty gained on Friday and posted their 6th weekly gain led by Capital goods stocks and auto stocks, while global stock market improved as investors calmly digested the imposition of tariffs by the US and China.

The benchmark BSE Sensex closed 0.23% higher at 35,657.86, gaining 0.66% for the week, marking its highest weekly gain since June 1. The broader NSE Nifty ended 0.21% higher at 10,772.65 jumping 0.54% for the week, the highest in nearly a month.

TCS stock hit its all-time high in trade Friday amid optimism over first quarter earnings scheduled to be announced next week. The stock closed up by 1.68% at 1913 level on BSE. The company’s market capitalization crossed the key level of over Rs 7.32 lakh crore during the rally.  TCS will announce its Q1 results on July 10, 2018.

On Thursday, 5th July, FPIs sold shares worth Rs. 159.37 crore on net basis, while DIIs also sold equities worth of Rs. 296.97 crore, as per exchange data.

The Indian rupee trimmed early losses and traded little changed against American currency as US tariffs on Chinese imports took effect. The rupee opened at 68.90 and touched a high and low of 68.82 and 69.03 a dollar, respectively.