The Indian stock market climbed to record highs on Tuesday on positive sentiments and improving demand as states began easing Covid-19 restrictions. The 30-share index Nifty reached 16,000 for the first time on 3 August. The Sensex also rose 500 points to a new record high of 53,478.5. HDFC, Tata Consultancy Services (TCS), Infosys and Titan were the biggest contributors to the 30-share S&P BSE Sensex index. All four together contributed 200 points to the rally in the index.
All you need to know about Nifty and Sensex touching all-time high
1) On Tuesday, the Nifty 50 index rose 133 points to hit a new record high of 16,016. Titalm Sun Pharma, Bharti Airtel, HDFC were among the top performing stocks on Tuesday. Nifty had earlier touched 15,000 mark on February 5, 2021.
2) “This market boom is backed by strong performance from industry leaders such as HDFC from Banking, and TCS and Infosys from the IT pack. There is huge support coming from FMCG giants like UBL, Britannia and Marico,” said Rahul Sharma of Equity99.
“Nifty Pharma is also supporting the current bullish trend as big counters like Sun Pharma and Lupine are trading very strong today… Now 16,000 will be the next hurdle point for Nifty 50. If we close above the 16K mark, the 16,100-16,150 levels will act as resistance,” he added.
2) “After a long consolidation, we have seen further breakout in Tuesday’s trading session with Nifty 50 making new highs. If the index breaks the level of 16,000 on a close basis, then a strong rally can be seen towards the level of 16,200-16,500. Overall, the Nifty 50 index gained nearly 500 points in five months. Sumeet Bagadiya, Executive Director, Choice Broking said, “Now there is a possibility of further increase of 500 points in the next five days as we have seen this breakthrough after a long consolidation.
4) Among the broader markets too, BSE Mid- and Smallcap indices touched new peaks with gains of up to 0.5 per cent in intra-day trade.
5) The S&P BSE Sensex also touched a new high of 53,390, up 440 points on Tuesday. HDFC, Tata Consultancy Services (TCS), Infosys and Titan were the biggest contributors. On the other hand, ICICI Bank and Tata Steel were among the stocks that weighed in on the Sensex.
read all Breaking Newshandjob breaking news And coronavirus news Here
.