Mumbai: Benchmark equity indices Sensex and Nifty closed at 17-month high on Friday buoyed by continuous inflows from foreign and domestic institutional investors in the local equity shares.

However, investors are cautious ahead of US payroll data due later Friday.

The US jobs report is expected to show employers added 180,000 jobs in August, according to the median estimate of 89 economists polled by Reuters.

Foreign and domestic institutional investors were buyers for the fourth consecutive session and bought $324 million and 1658.49 crore, respectively, according to Securities Exchange Board of India and NSE provisional data.

FIIs and DIIs bought $6.11 billion and 114.39 crore in the local equity markets so far this calendar year pushing up the Sensex by 9.25%.

On Friday, BSE’s 30-share Sensex closed 0.38%, or 108.63 points, higher at 28,532.11, its highest close since 16 April 2015, while the National Stock Exchange’s 50-share Nifty index climbed 0.4% to 8,809.65 points, its best close since 13 April 2015. The Sensex and Nifty closed higher for four out of five trading sessions this week.

“The stock market gained tracking renewed buying interest in select index majors in second half. In absence of any major trigger, participants were busy finding trades on stock specific front and counters from auto pack topped their list, due to announcement of monthly sales figure," said Jayant Manglik, president, Retail Distribution, Religare Securities Ltd.

“We have a long weekend ahead and our markets will react to global cues in early trades on Tuesday. By and large, indications are bullish as markets have digested recently released macro-economic data, which were not so encouraging and holding at its 52 weeks high", he added.

Adani Ports and Special Economic Zone Ltd was the top gainer in the Sensex and closed up 3.6% after the National Green Tribunal (NGT) refused to quash environmental clearances granted to Vizhinjam International Sea Port in Kovalam, Kerala.

Telecom stocks such as Bharti Airtel Ltd, Idea Cellular Ltd and Reliance Communications Ltd rebounded after they fell upto 9% on Thursday as Reliance Industries Ltd (RIL) chairman Mukesh Ambani announced aggressively low prices for RIL’s Jio mobile phone services.

Bharti Airtel closed 2.7% up, Idea Cellular climbed 0.42% and Reliance Comm rose 0.1%.

Investors continued buying in auto and banking sectors as well. Maruti Suzuki gained 2%, Mahindra & Mahindra Ltd rose 1.2%, Tata Motors Ltd rose 1.1% and Hero MotoCorp rose 0.9%.

In the banking space, State Bank of India rose 1%, Axis Bank rose 0.5%, HDFC Bank Ltd rose 0.3% and ICICI Bank rose 0.2%.

Coal India Ltd was the biggest loser and fell 1.6% after the company reported the lowest production and shipments in three years after heavy rains flooded its mines. Coal production in August dropped 10.4% from a year ago to 32.4 million metric tons and shipments declined 9.6% to 36.72 million tons, both plunging to the lowest since the same month in 2013.

Reliance Industries Ltd fell for the third straight session, losing 5% in this period. The stock fell 1.6% on Friday to close at 1012.85 a share.

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