Benchmark indices ended at record highs amid the monthly derivatives expiry on Thursday. Sensex climbed 349 pts to 82,134 and Nifty rose 99.60 points to 25,152. This is the first time Sensex has ended over 82,000 level. In case of Nifty, the 50 stock index closed above the 25,000 mark for the fourth consecutive session today.
Both Sensex and Nifty ended at their record highs today. During intraday trading too, Sensex hit a record high of 82,285 and Nifty scaled an all-time high of 25,192.90.
Market cap of BSE-listed firms stood at Rs 462.67 lakh crore in today’s session against Rs 463.03 lakh crore on Wednesday.
Of 30 Sensex stocks, 19 ended in the green. Tata Motors, Bajaj twins, HCL Tech, ITC and Reliance Industries were the top gainers on Sensex, rising up to 4.19%.
Shares of Mukesh Ambani-led Reliance Industries rose 2.63 per cent intraday to hit a high of Rs 3,074.80 after the conglomerate said its board of directors would meet on September 5 to consider issuing bonus shares in the ratio of 1:1 to the equity shareholders of the company by capitalisation of reserves.
Later, the stock pared gains and ended 1.51% higher at Rs 3040.85 on BSE.
Shares of Bajaj Finance and Bajaj Finserv rose on Thursday amid reports that Bajaj Housing Finance was likely to launch its initial public offering (IPO) in the first half of September this year. The company is eyeing to raise Rs 7,000 crore from this issue.
Bajaj Finance stock ended 2.41% higher at Rs 7065 on BSE today. Market cap of Bajaj Finance rose to Rs 4.37 lakh crore.
On similar lines, Bajaj Finserv stock ended 2.41% higher at Rs 1755.25 on BSE.
Market cap of Bajaj Finserv climbed to Rs 2.80 lakh crore.
Here’s a look at what analysts said on the record breaking run of Sensex and Nifty today.
Rupak De, Senior Technical Analyst, LKP Securities said, "Nifty moved up to achieve its highest-ever closing following a volatile session. Besides, the index has undergone a brief consolidation breakout. The RSI is in a bullish crossover, indicating strong price momentum. In the short term, the index might move towards 25,300, with support on the lower end placed at 25,000."
Shrikant Chouhan, Head of Equity Research, Kotak Securities said the larger market texture is positive but due to temporary overbought conditions, market is likley to see range-bound activity in the near future. "For the traders now, 25000/81650 would be the crucial support zone. Above the same, the market could move up till 25225-25300/82500-82700. On the flip side below 25000/81650 the sentiment could change. Below the same, we could see one quick intraday correction till 24900-24850/81200-81000," he added.
Vinod Nair, Head of Research, Geojit Financial Services said,"Indian equities began steadily and breached a record high. Volatility disturbed the trend in the afternoon due to Reliance Ltd AGM expectations, but the broad market carried the rally to a new high by the end of the day with rapid improvement in sentiment. The recent uptick in Indian IT and FMCG stocks points to a potential soft landing for the US economy and an improvement in domestic rural consumption."
As many as 297 stocks hit their 52-week highs today. On the other hand, 23 shares fell to their their 52-week lows on BSE.
However, market breadth was negative as out of 4,047 stocks traded, 1420 stocks ended in the green. Around 2531 stocks closed in the red and 96 stocks remained unchanged.
BSE midcap and smallcap indices fell 134 pts to 48,807 and 55,602 pts to 403.20, respectively.
BSE oil and gas index was the top gainer rising 295 pts to 32,850 as RIL shares rose today. On the other hand, BSE capital goods index was the top loser falling 652 pts to 72,788.
Around 9 stocks hit their upper circuits as the stock market rallied on Thursday. On the other hand, 5 shares hit their lower circuit limits.