August 17, 2018 / 7:20 AM / a year ago

Nifty at record close; financials, consumer staples bolster

A man walks past a screen displaying the new logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, August 16, 2018.REUTERS/Francis Mascarenhas

(Reuters) - India’s NSE index 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, Shree Cement, Orient Cement and India Cements surged after the government allowed the import of petcoke for use as feedstock in cement, lime kiln, calcium carbide and other industries.

Cash-strapped Jet Airways 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.

The broader NSE Nifty ended 0.75 percent higher at 11,470.75. It rose 0.4 percent over the week.

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

Reporting By Aparajita Saxena in Bengaluru; Editing by Gopakumar Warrier

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