Nifty, Sensex Post Sixth Straight Weekly Gain

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The BSE Sensex rose 88.90 points to end at new high of 34,592.39 while the NSE Nifty jumped up 30.05 points to record 10,681.25. The indexes posted a weekly advance of 1.3% and 1.2% respectively.

After two flat days, Indian markets opened in the green on Friday.

Volatility index India VIX slipped 0.92%.

"The global backdrop is looking very good", said Akash Jain, vice president of research at Ajcon Global.

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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. Positive trade in global market and expectation of revival in domestic earnings from H1FY18 is upholding the healthy sentiment. Analysts estimate that the increase could add up to 35% to the miner's earnings per share in the financial year 2019. Earlier this week, the nation's second-largest software exporter said effective tax rate on its USA operations will be lower after it signed an agreement with the country's tax authority. The multi-year agreement is worth more than $2 billion in revenues, and is expected to be completed by the second quarter of 2018, the company said.

Major Sensex losers were: Bharti Airtel, down 1.04 per cent at Rs 509.40; ITC, down 0.89 per cent at Rs 267.50; Power Grid, down 0.88 per cent at Rs 196.50; Bajaj Auto, down 0.84 per cent at Rs 3,175.10; and Tata Motors (DVR), down 0.73 per cent at Rs 252.50.

TCS shed 0.7 percent after posting muted growth in quarterly profit, while rival Infosys edged up 0.3 percent ahead of its quarterly earnings unveiled aftermarket hours.

Dish TV India slumped 6.8 percent on concerns over delay in its planned merger with Videocon d2h.

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