Staff of Reuters 2 minutes Read On November 4, 2020, people walk through the Bombay Stock Exchange (BSE) building in Mumbai, India. FILE PHOTO: REUTERS/Francis Mascarenhas (Reuters) – BENGALURU (Reuters) – On Friday, Indian equities began at all-time highs, powered by metal and pharmaceutical sectors, with benchmark indices on track for their first weekly gain in three weeks. The NSE Nifty 50 index was up 0.21 percent at 15,957.70 and the S&P BSE Sensex was up 0.21 percent at 53,270.24 at 0400 GMT. Both indexes have gained more than 1% this week. Wipro Ltd’s stock hit a new high after the company’s June-quarter results topped analysts’ expectations. The stock is currently trading at 580.30 rupees, up 0.8 percent. The Nifty IT index, on the other hand, was down 0.25 percent after reaching a high in the previous session. Steel makers Tata Steel and JSW Steel led the Nifty Metal index higher by 0.45 percent, a day after the world’s largest producer China reported a drop in crude steel output. The Nifty Pharma index achieved an all-time high after closing 0.27 percent lower on Thursday. It was up 1.66 percent by 0407 GMT. Angel Broking’s stock soared 11% to an all-time high after the stockbroker’s consolidated profit more than doubled in the June quarter. Profit-taking in Taiwanese semiconductor giant TSMC impacted on other tech businesses and broader risk sentiment, sending Asian equities lower. Shivani Singh contributed reporting from Bengaluru, and Uttaresh.V. edited the piece./n
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