India's NSE index at record close; financials, consumer staples bolster

August 18, 2018 / in.investing.com / Article Link

* NSE, BSE indexes up 0.75 pct

* Cement stocks gain on petcoke import relief

* Indian currency and debt markets closed for local holiday

Aug 17 (Reuters) - India's NSE index .NSEI marked its highest ever close on Friday, helped mainly by financial and consumer staple stocks and as Asian peers recovered on hopes of Sino-U.S. trade talks next week.

Cement stocks such as Ramco Cements TRCE.NS , Shree Cement SHCM.NS , Orient Cement ORCE.NS and India Cements ICMN.NS surged after the government allowed the import of petcoke for use as feedstock in cement, lime kiln, calcium carbide and other industries. Jet Airways JET.NS rose nearly 3 percent after a report said the company was in talks to raise up to 20 billion rupees against its forward sales. The company early on Friday deferred its first-quarter results to Aug. 27. broader NSE index ended 0.75 percent higher at 11,470.75. It rose 0.4 percent over the week.

The benchmark BSE index .BSESN ended 0.75 percent higher at 37,947.88. It gained 0.2 percent over the week.

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