Sensex, Nifty at record HIGHS again; THESE stocks fuel the rally

After trading volatile and ending near flatline on Wednesday, the benchmark indices on Thursday have touched fresh record highs intraday, led by information and technology stocks along with banking and financials, amid strong global cues. 

The BSE Sensex jumped around 328 points to touch 54,853.96 levels, while Nifty50 surged more than 87 points to hit 16369.85-mark during Thursday’s intraday trade. Sensex, Nifty50 are soaring since the last week amid volatility with both crossing key levels of 54000 and 16000 respectively. 

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The frontline markets have breached earlier record high of Sensex at 54,772, and Nifty50 at 16359 level, that were hit during Tuesday’s intraday session.

Today’s surge is mostly led by information and technology stocks, as the Nifty IT Index alone grew by around 2 per cent intraday, led by Tech Mahindra, which hit its new 52-week high after gaining near 5 per cent to Rs 1384.7 per share on the BSE intraday trade today.

The IT stock has breached its earlier 52-week high of Rs 1325 per share on the BSE intraday, touched on Tuesday (August 10, 2021) this week.

Besides another heavyweight, Power Grid, which was top gainer in the market opening today has been rallying over 5 per cent to Rs 185.95 per share and is trading near its 52-week high levels. The counter has been surging since its first quarter of fiscal 2022 results announcement.

Similarly, HCL Tech, Tata Motors, Larsen and Toubro are trading between 2-3 per cent, while NTPC, Bajaj Auto, HDFC Life, Infosys, and Titan are surging around 1 per cent intraday on Thursday. 

In the broader market space, the Nifty MidCap and SmallCap defying their Wednesday’s trade have outperformed the benchmarks, gaining 0.7 and 1.7 per cent respectively an hour ago market’s close on Thursday, while Nifty Bank has been trading flat by gaining 30 points at 35836.25 intraday today. 

While sectoral indices that being a hindrance in the markets further surge are Nifty Pharm and Privat banks, both down by 1 and 0.01 per cent respectively.