Sensex soars over 400 pts to scale fresh lifetime peak; Nifty crosses 16,800


PTI, Aug 30, 2021, 10:07 AM IST

Mumbai: Equity benchmark Sensex rallied over 400 points in early trade on Monday, tracking gains in index majors Reliance Industries, HDFC and Bajaj Finance amid positive cues from global markets.

After touching a lifetime high of 56,527.81 in the opening session, the 30-share index was trading 376.65 points or 0.67 percent higher at 56,501.37. Similarly, the broader NSE Nifty surged 100.95 points or 0.60 percent to 16,806.15.

Titan was the top gainer in the Sensex pack, rising over 2 percent, followed by Bajaj Finance, Tata Steel, M&M, Maruti, L&T, Reliance Industries and HDFC.

On the other hand, Tech Mahindra and HCL Tech were the laggards.

In the previous session, the BSE index settled 175.62 points or 0.31 percent higher at 56,124.72, and Nifty gained 68.30 points or 0.41 percent to finish at a record 16,705.20

Foreign institutional investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 778.75 crore on Friday, as per provisional exchange data.

Domestic equities look to be good as of now, said Binod Modi Head-Strategy at Reliance Securities.

“No mention about actual time frame for reversal of USD 120 billion monthly asset purchase programme by US Fed chief Jerome Powell and indications of no interest rate hike in the medium term essentially show that taper tantrum is still not in the sight in the near term, which augurs well for global equities,” he noted.

US equities were upbeat last week with all three key indices in the US recording weekly gains to the tune of 1-2.8 percent, Modi added.

In Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.36 percent to USD 72.96 per barrel.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Awards don’t create value for independent films in India: Manoj Bajpayee

Public Alert: Cyber fraudsters impersonating traffic police to demand fines

UP: 25 people booked for attacking civic officials for encroachment removal

SC transfers cheating case against choreographer Remo D’Souza to Delhi court

Fishing vessel collides with naval platform off Goa coast; 2 fishermen missing

‘Nation First’ key to India’s progress, says President Murmu

Karnataka BJP chief Vijayendra slams Cong govt over Waqf notices to farmers, fund crunch

Related Articles More

Air India to offer integrated aircraft maintenance engineering programme

Markets stage sharp recovery; Sensex reclaims 79k level, Nifty surges 557.35 points

Baku climate talks: The ‘X’ factor that could determine future of Global South

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Air India to offer integrated aircraft maintenance engineering programme

Awards don’t create value for independent films in India: Manoj Bajpayee

Karnataka bypolls: Outcome crucial for both ruling and oppn camps

Belagavi: Was youth killed for an iPhone? Police launch intensive probe

K’taka Health Minister calls for collaborative efforts to combat Antimicrobial Resistance

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.