Finance
By: Shree1news, 03 AUG 2021
Sensex ended 872 points higher at 53,823 and Nifty gained 245 points to 16,130
Benchmark indices closed at their life-time highs today, powered by a rally in banking, auto and IT stocks. Sensex logged its biggest gain in two months, ending 872 points higher at 53,823. Nifty climbed 245 points to 16,130.
Titan was the top Sensex gainer, rising 3.89 per cent, followed by HDFC, Nestle India, IndusInd Bank, Ultratech Cement, Bharti Airtel and SBI.
Bajaj Auto, Tata Steel and NTPC had been among the top Sensex losers, falling up to 0.33%.
Among 30 Sensex stocks, 27 resulted in green.
During the day, Sensex logged all-time high of 53,887 and Nifty touched 16,146, a fresh record high.
BSE midcap and small cap indices closed 43 points and 62 points higher at 23,374 and 27,134, respectively.
Banking stocks had been the top sectoral gainers with their BSE index zooming 614 points to end at 39,973 towards earlier shut of 39,359.
IT shares too rallied with the BSE IT index ending 1.25% or 390 points higher at 31,587, respectively.
BSE auto index surged 361 factors to 23,144. Bank Nifty gained 1.43% or 497 points to end at 35,207.
All 19 BSE sectoral indices except metal ended in the green. BSE metal index closed 17 points lower at 21,013.
Market cap of BSE-listed firms rose to a record high of Rs 240.04 lakh crore.
Commenting on the outlook for Nifty, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan mentioned, “The medium-term target continues to be pegged at 16,800. Along with the price breakout, the daily Bollinger Bands have entered an expansion phase, which is in favour of the rally.
Moreover, the daily momentum indicator has triggered a bullish crossover and has started a new cycle on the upside from the equilibrium line. Nifty is expected to witness sustained rally going ahead. On the flip side, the zone of 15,900-16,000, which was earlier acting as a resistance, will now act as a crucial short-term support area as per the principle of role reversal.”
Meanwhile, rupee rose by 6 paise to close at 74.28 towards the US greenback amid a agency pattern in home equities and a weak American forex.
On the interbank foreign exchange market, the local unit opened at 74.36 against the greenback and witnessed an intra-day high of 74.21 and a low of 74.36.
Source:A-N
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