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Updated on: Thursday, August 05, 2021, 10:12 AM IST

Indices open to record highs on third straight day: Sensex crosses 54,500, Nifty above 16,290

Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals. |

Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals. |

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The stock market indices were at record high in opening trade on August 5. Sensex was up 91.5 points, or 0.17 percent percent at 54,461 levels points while the Nifty50 was up 17.10 or 0.11 percent at 16,276-mark points

Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals.

The Sensex soon pared its initial gains on profit-booking and was trading in the negative territory amid a mixed trend in global markets.

After opening at its lifetime peak of 54,576.64, the 30-share index turned flat, slipping 8.33 points or 0.02 per cent to 54,361.44.

In similar movement, the broader NSE Nifty inched 8.95 points or 0.06 per cent lower to 16,249.85 in early trade.

IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Titan, Tata Steel, M&M, Bajaj Finance and SBI.

On the other hand, Bharti Airtel, HCL Tech, Tech Mahindra and Kotak Bank were among the gainers.

In the previous session, Sensex rallied 546.41 points or 1.02 per cent to end at its new record of 54,369.77, and Nifty surged 128.05 points or 0.79 per cent to its all-time peak of 16,246.85.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 2,828.57 crore on Wednesday, as per provisional exchange data.

Domestic equities look to be flat as of now. Sharp rebound in market in last two trading days was not broad-based and sharp rebound in heavyweight financials contributed to rally, said Binod Modi Head-Strategy at Reliance Securities.

However, huge profit-booking in mid-cap and small-cap stocks was visible, he said, adding that going forward, given sharp improvement in key economic indicators like GST collection and auto sales volume, "we believe strong momentum of corporate earnings recovery may sustain in subsequent quarters".

Asian shares mixed

Shares in Asia-Pacific were mixed on Thursday morning trade, following declines overnight on Wall Street. Japan's Nikkei 225 gained 0.31 percent in morning trade while the Topix index advanced 0.25 percent. South Korea's Kospi stood little changed.

Asian shares held on to recent gains in morning trading on Thursday, despite hawkish remarks from a senior official at the US Federal Reserve, that boosted the dollar while weighing on risk appetite, and uncertainty about Chinese policy.

The Dow Jones Industrial Average fell 323.73 points or 0.92 percent to 34,792.67, the S&P 500 lost 2049 points or 0.46 percent to 4,402.66 and the Nasdaq Composite added 19.24 points or 0.13 percent to 14, 780,53.

Petrol, diesel rates unchanged

Petrol and diesel prices remained unchanged across the four metro cities today. This is the 18th consecutive day that fuel prices have remained constant. In the national capital, petrol prices were steady at Rs 101.84 per litre and diesel at Rs 89.87 per litre. In Mumbai, petrol prices stood at Rs 107.83 per litre and diesel at Rs 97.45 per litre.

In Chennai petrol is available at Rs 102.49 and diesel at Rs 94.39 per litre. In Kolkata, a litre each of petrol costs Rs 102.08 and diesel Rs 93.02, according to data by Indian Oil Corporation.

International oil benchmark Brent crude advanced 0.38 per cent to $70.65 per barrel.

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Published on: Thursday, August 05, 2021, 09:26 AM IST
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