Morgan Stanley said that Zomato has strong business moats with the potential to add new adjacencies.
In early deals, Sensex advanced 370 points or 0.66% to touch a new peak of 56,494 while Nifty 50 advanced 100 points or 0.60% to 16,806.
Some support will come as foreign portfolio investors (FPIs) pumped in a net of just Rs 986 crore in Indian equities during August
Beijing is reportedly looking at new rules that would restrict domestic internet firms from going public in the US.
According to the estimates of the IMF, the global economy would recover smartly in 2021 and would continue strong in 2022.
At the close of trade on Friday, the market capitalisation of all BSE-listed companies advanced to an all-time high of Rs 2,43,73,800.36 crore.
Earlier this week, the two exchanges BSE and NSE asked investors to refrain from investing in unregulated derivative products
The Nifty Metal index was the star of the day with gains of 1.63%, followed by the Nifty Pharma index advancing 1.38%.
In early deals, Sensex lost 67.12 points or 0.12% at 55,881.98, while the Nifty 50 declined 6.95 points or 0.04% at 16,629.95
After swinging between gains and losses, the 30-share BSE index settled at 55,949.10, up 4.89 points or 0.01%