The 30-scrip Sensex closed lower at of 59,093, as it rose 514 points and the Nifty50 index surged 28 points to end at 17,660. The broader markets underperformed the frontliners closed a percent lower.

According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets, equity, debt and hybrid securities, was at Rs 97,744 crore in August-end compared to Rs 85,799 crore in July-end. The figure for July has been revised by the regulator from Rs 1,01,798 crore posted earlier.

The rupee closed 4 paise higher at 73.48 (provisional) against the US dollar on Friday, tracking the broad weakness of the American currency in the overseas market. At the interbank forex market, the local unit opened flat at 73.49 against the greenback. During the session, the domestic unit witnessed an intra-day high of 73.42 and a low of 73.55.

No portfolio can be safe from market corrections – even the top performing manager will see portfolio value decline during any major market correction – and hence, investors are well-served to focus on alpha generation i.e., outperformance over market returns, in both rising markets as well as falling markets.