A terrific Tuesday. Yes, after a stable Monday, Indian markets created history as the Nifty50 finally managed to go past 16,000, while the S&P BSE Sensex rallied more than 800 points to hit a fresh record high on August 3.
During the day the Nifty hit 16,146 and the Sensex 53,887. Tracking the momentum, investors’ wealth rose by more than Rs 2 lakh crore in one trading session. The average market capitalisations of BSE-listed companies rose from Rs 237.74 lakh crore on August 2 to Rs 240.07 lakh crore on August 3.
Let’s look at the final tally on D-Street–the Sensex rose 872 points to 53,823 and the Nifty50 closed with gains of 245 points at 16,130.
Sectorally, buying momentum was seen in telecom, FMCG, auto, banks, and IT stocks, while mild selling pressure was visible in metals.
Broader markets underperformed the benchmarks but they, too, hit fresh record highs. The BSE midcap index closed with gains of 0.19 percent and the smallcap index was up 0.23 percent.
More than 500 stocks on the BSE hit a fresh 52-week high, including Infosys, SBI, Sun Pharma, Titan Industries, and UltraTech Cements.
Stocks & Sectors
Top sectoral gainers include telecom (up 1.7 percent), FMCG (up 1.6 percent), auto (up 1.59 percent) and Bankex (up 1.56 percent).
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 83,938.71 | -465.75 | -0.55% |
| Nifty 50 | 25,722.10 | -155.75 | -0.60% |
| Nifty Bank | 57,776.35 | -254.75 | -0.44% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Bharat Elec | 426.10 | 16.20 | +3.95% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 317.75 | -11.60 | -3.52% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8184.35 | 125.60 | +1.56% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 10612.20 | -117.00 | -1.09% |
Top Nifty gainers included Titan Company, HDFC Ltd, and IndusInd Bank. JSW Steel, Bajaj Auto and Shree Cements were among top Nifty losers.
Long buildup was seen in stocks like UBL, Cummins India, and Dabur India. A short buildup was seen in stocks like Godrej Properties, Voltas, and Shriram Transport Finance.
Technical View
The Nifty50 closed above 16,100 for the first time. It hit a fresh high of 16,146 and is trading well above its all short and long-term moving averages, which is a positive sign.
The index finally gave a breakout above 16,000 which most traders were eyeing since June. The immediate resistance is placed at 16,150, while on the downside, support is at 15,800, experts said.
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