Nifty hits fresh peak on recovery hopes 

The 30-share Sensex also gained 250 points, to 32,433, 111-point shy of a new record high.The benchmark Nifty closed at a new record high on Friday after economic data surprised positively. For more details and Free Trials you can visit to our website 

The rupee ended three-week high of 64.93 against the dollar, while the yields on the 10-year benchmark government security softened two basis points to 6.73. 

The Nifty gained 71 points, or 0.7 per cent, to close at an all-time high of 10,167, surpassing its September 18 record.  

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There are early signs of recovery in the economy. The medium-term picture looks positive. 

The festive mood is clearly in the air, with the markets having hit fresh peaks. The direction change from the time markets took a breather at the end of September till today has been driven by better macro data. 

The current leg of the rally has been driven by a surge in liquidity, thanks to the impressive inflows received by MFs. 

Liquidity can continue to remain high as inflation and inferior returns of other asset classes is attracting more investors towards equities. 

Banking stocks led to the gains on Friday with HDFC Bank and ICICI Bank, gaining 2.1 per cent 1.44 per cent, respectively. Shares of Bharti Airtel gained eight per cent and were the second-biggest contributor to Sensex gains after HDFC Bank.The telecom major gained after it announced it would buy Tata’s mobile business in a cash-free, debt free deal.