Sensex ends above 55k for the first time; Nifty tops 16,500

Equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time on Friday, led by gains in index majors TCS, RIL and HDFC twins. The 30-share gauge jumped 593.31 points or 1.08% to its fresh lifetime high of 55,437.29. The index touched an intra-day record of 55,487.79. Similarly, the broader NSE Nifty advanced 164.70 points or 1.01% to its fresh closing peak of 16,529.10. The 50-share index surged to a record of 16,543.60 during the day. TCS, closing over 3% higher, was the top Sensex gainer, followed by L&T, Bharti Airtel, HCL Tech, Tata Steel, Bajaj Auto and RIL. On the other hand, PowerGrid, IndusInd Bank, Dr Reddy’s, Bajaj Finance and NTPC were among the laggards. Sectoral indices on the NSE ended mixed.  IT stocks remained in focus throughout the week and investors lapped-up quality IT names. Nifty IT, closing over 1% higher, was the top sectoral gainer followed by the Nifty FMCG, Nifty Bank and Nifty Metal. On the downside, the Nifty Realty slipped 0.92%, the Nifty Pharma lost 0.59% and the Nifty Auto ended with a marginal loss of 0.02%. In Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended in the red. Equities in Europe were trading on a positive note in mid-session deals.