Sensex, Nifty open at fresh record highs

People walk past the Bombay Stock Exchange building in Mumbai

People walk past the Bombay Stock Exchange building in Mumbai

The key indices - which opened at fresh levels on Friday - had slipped into the negative territory on a sudden sell-off on account of an unprecedented event in which four senior judges of the Supreme Court met the media to complain that the administration of the country's top court was not in order, said market observers.

Dividend tax will be payable at the hands of recipient shareholders, in the classic system of dividend taxation, reports said.

The 30-share index had advanced 134.93 points, or 0.39 percent, to hit all-time high of 34,638.42, while Nifty had soared to a record of 10,690.25 by gaining 39.05 points, or 0.36 percent, in early trade. Tata Consultancy Services will announce its Q3 results tomorrow, while Infosys will declare results on Friday.

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They are advising clients to wait for a sustained move on the upside before creating fresh long positions as Nifty is showing signs of overbought which could cap further upside but, today is a new day and D-Street will react to TCS numbers and Infosys.

Jain Irrigation gained 2% and IFCI climbed 4% after both stocks came out of F&O ban.

Among the secondary indices, the S&P BSE Mid-Cap index rose 0.41%.

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Sector-wise, the upmove was driven by oil and gas (up 0.69 percent), banking (0.50 percent), capital goods (0.48 percent), metal (0.45 percent), auto (0.28 percent), teck (0.14 percent), infrastructure (0.14 percent) and IT (0.03 percent).

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent, following two straight sessions of decline.

Notable losers were TCS 1.27 percent, Bharti Airtel 0.82 percent and Wipro 0.45 percent. The indexes posted a weekly advance of 1.3% and 1.2% respectively.

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