BENGALURU, Sept 3 (Reuters) - Indian shares scaled new peaks
on Friday, with the blue-chip Nifty registering its best week
since early February as conglomerate Reliance Industries surged
to record highs, and investor focus on U.S. jobs report due
later in the day.
The blue-chip NSE Nifty 50 index was up 0.52% at
17,323.60 at close and the benchmark S&P BSE Sensex
rose 0.48% to 58,129.95. The Nifty closed the week 3.70% higher,
while the Sensex rose 3.57%.
In the broader market, shares held near record highs as
investors awaited U.S. jobs data to ascertain the pace and
timing of the Federal Reserve's tapering of asset purchases.
India's stock market, having outperformed Asian peers so far
this year, has enjoyed its record highs on abundant liquidity
and positive global cues, along with the Fed's dovish stance.
The Nifty has hit record high 47 times and the Sensex 38
times this year, as per Refinitiv Eikon data.
In Mumbai trading, Reliance Industries Ltd and Oil
and Natural Gas Corp were among the top performers on
the Nifty 50, gaining 4.1% and 3.8%, respectively.
The Nifty Energy index, which had its ninth
straight session of gains, was up 2.29%.
Among other notable stock moves, HDFC Life Insurance Co Ltd
closed 3.2% lower and was the top loser on the Nifty
HDFC Life said it would buy the life insurance unit of Exide
Industries for 66.87 billion rupees ($915.02 million),
in what is one of India's largest insurance deals. Exide
Industries closed 6.4% higher, after surging as much as 15%.
Shares of defense training simulator maker Zen Technologies
Ltd rose nearly 10% and were locked in their upper
circuit. The company said it secured new orders worth 1.55
billion rupees from the Indian Air Force.
($1 = 73.0800 Indian rupees)
(Reporting by Rama Venkat in Bengaluru, additional reporting by
Gaurav Dogra; Editing by Shailesh Kuber)