Sensex up 87 points; ICICI Bank, Maruti top gainers

The Bombay Stock Exchange logo is seen at the BSE building in Mumbai

The Bombay Stock Exchange logo is seen at the BSE building in Mumbai

It was a volatile day and last minute buying pushed the index towards fresh closing high on Nifty on Thursday, but most analysts are losing conviction in the Bull run at least in the short term.

The 30-share Sensex, after a cautious start, gathered momentum and rallied to 34,558.88, before ending at 34,503.49, a rise of 70.42 points, or 0.20 per cent.

At 9:16 AM, the BSE Sensex was trading at 34,606, up 102 points, while the broader Nifty50 was ruling at 10,688, up 37 points.

ICICI Bank Ltd rose 2.7 per cent, while Reliance Industries Ltd closed 1.2 per cent higher.

Investors were cautious ahead of Q3 results by Infosys to released later in the day after the country's largest IT firm TCS posted a 3.9 per cent drop in profit and a 2.7 per cent increase in revenue for the October-December quarter.

Key Indian equity indices on Friday provisionally closed at fresh highs riding on broadly positive global cues, along with buying support from oil and gas, banking and capital goods stocks. The indexes hit record closing levels four times this week.

While BSE Sensex fell 119.87 points at 34,383.62 after the press conference, the 50-share NSE Nifty fell 39 points to 10,612.20.

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