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Stock Market Updates: Sensex hits 58k, Nifty above 17,300; Exide zooms 10%

Stock Market Updates: Sensex hits 58k, Nifty above 17,300; Exide zooms 10%

At 09:18 hours, the 30-share BSE index was trading 236.5 points or 0.41 per cent higher at 58,089.07, and the broader NSE Nifty was up 48 points or 0.28 per cent to 17,282.50

Stock Market Updates: Sensex hits 58k, Nifty above 17,300; Exide zooms 10% Stock Market Updates: Sensex hits 58k, Nifty above 17,300; Exide zooms 10%

Equity benchmark Sensex jumped over 200 points to cross 58k for the first time. At 09:18 hours, the 30-share BSE index was trading 236.5 points or 0.41 per cent higher at 58,089.07, and the broader NSE Nifty was up 48 points or 0.28 per cent to 17,282.50.

Kotak Mahindra Bank was the top gainer in the Sensex pack, advancing over 2 per cent, followed by Reliance Industries, IndusInd Bank, Titan, Tata Steel, ICICI Bank and L&T.

On the other hand, HCL Tech and TCS were among the losers.

On September 2, the benchmark indices resumed their bull March after a single-session pause to close at record highs. Sensex ended 514 points higher at 57,852 and Nifty jumped 157 points to 17,234.

TCS was the top  Sensex gainer, rising 3.34 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan.

Nagaraj Shetti, Technical Research  Analyst, HDFC Securities said, "Nifty on the weekly chart formed a long bull candle as of now (one more sessions to go). This pattern indicate a decisive upside breakout of small range movement of the last few weeks. The short term trend of Nifty is strong and the broad market indices were also in driver's seat. One may expect further upside in the next 1-2 sessions, before showing another round of consolidation or minor profit booking from the new highs. The next upside levels to be watched around 17500 and immediate support is placed at 17150."

Foreign institutional investors (FIIs) bought shares worth Rs 348.52 crore on September 2 and DIIs lapped up shares worth Rs 381.7 crore, as per provisional data available on NSE.

 

Published on: Sep 03, 2021, 9:30 AM IST
Posted by: Tanya Aneja, Sep 03, 2021, 9:28 AM IST