Sensex scales 57K peak; Nifty crosses 17,000 for first time
Equity benchmark Sensex crossed the 57,000 mark for the very first time, as it jumped over 200 points in early trade on Tuesday, tracking gains in index heavyweights Infosys, HDFC Bank, and TCS amid fresh foreign fund inflows. In tandem, the broader NSE Nifty also scaled the crucial 17,000 level. Sensex had touched a lifetime high of 57,124.78 in the opening session.
Sensex has soared over 4,000 points so far in August
In early trade, after touching 57,124.78, the 30-share index was trading 115.53 points or 0.20 percent higher at 57,005.29. Meanwhile, NSE Nifty has surpassed the 17,000 mark to touch fresh all-time highs, its fastest 1,000-point rally. Sensex has soared over 4,000 points so far this month to scale the 57,000- mark for the first time as the bull run continues in the equity market.
Earlier, on August 4, Sensex had sailed past 54,000 points
Reflecting the strong stock market sentiments despite lingering worries over possible tapering by the US Federal Reserve, the market capitalization of BSE-listed companies jumped to an all-time high of Rs. 2,48,34,296 crore in morning trade. Earlier, on August 4, for the first time, the Sensex had sailed past 54,000 points, both at intra-day and closing levels.
Sensex climbed the 56,000-peak in intra-day on August 18
The next 1,000 points level was scaled in less than a week as the benchmark climbed the 56,000-peak for the first time in intra-day on August 18. Then on August 27, it closed above the 56,000-mark for the first time.
Who were the top gainers and losers?
Bharti Airtel was the top gainer in Sensex pack, rising over one percent, followed by HCL Tech, Tech Mahindra, TCS, and Asian Paints. M&M, IndusInd Bank, SBI, and Reliance Industries were among the laggards. In the previous session, the BSE index ended 765.04 points or 1.36 percent higher to 56,889.76, and Nifty surged 225.85 points or 1.35 percent to its record closing of 16,931.05.
Bull market has been remarkably stable without major corrections: Expert
Foreign institutional investors (FIIs) turned net buyers in the capital market as they purchased shares worth Rs. 1,202.81 crore on Monday, as per provisional exchange data. "A distinguishing feature of this bull market which started in April 2020, is that it has been remarkably stable without any major correction," VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Brent crude is trading at $71.85 per barrel
US equities extended gains mostly with S&P 500 and Nasdaq recording fresh highs. Bourses in Shanghai and Hong Kong were trading with losses in mid-session deals, while Tokyo and Seoul were positive. Meanwhile, international oil benchmark Brent crude fell 0.53 percent to $71.85 per barrel.
