New Delhi: Indian benchmark indices ended the week in the green led by a rally in consumer durables shares amid positive global cues. GDP for the quarter ended June growing at a record 20.1 per cent as compared to the same quarter last year also improved market sentiment. While 30-stock Sensex rose 3.57% or 2,005 points to end at 58,129, Nifty gained 3.70% or 618 points to 17,323 during the week. During the week, market cap of BSE-listed firms rose by Rs 10.48 lakh crore.
Sensex scaled the 58,000 mark and Nifty crossed the 17k milestone for the first time during the week.
Market cap on September 3 surged to an all-time high of Rs 254.21 lakh crore against market cap of Rs 243.73 lakh crore on August 27, 2021.
On Friday, Sensex closed above the 58,000-mark for the first time, led by gains in market heavyweight Reliance Industries amid a largely positive trend in global markets and sustained foreign fund inflows.
Sensex climbed 277 points to its lifetime closing high of 58,129. It touched a record of 58,194 on an intra day basis. Nifty rose 89.45 points to end at its all-time peak of 17,323. During the session, it touched a record of 17,340.
Reliance Industries was the top Sensex gainer, rising over 4 per cent, followed by Titan, Tata Steel, Bajaj Auto, Maruti and Dr Reddy’s.
Sensex has risen 21.73% or 10,378 points and Nifty has climbed 23.90% or 3,341 points since the beginning of this year.
In a year, Sensex zoomed 49.09% or 19,139 points and Nifty clocked a stellar rally of 49.96% or 5,771 points.
On Sensex, Bharti Airtel was the top gainer, rising 10.83% and M&M was the top loser, falling 3.23% during the week.
Santosh Meena, Head of Research at Swastika Investmart said,”Sensex achieved another milestone of 58k and it is surprising the street by its ferocious move and creating new history almost every day. This bull run has more legs to go and it is just a matter of time when Sensex will cross the 60,000 mark because we are in a roaring bull market that may continue for the next 2-3 years.
Technically, 58,700 is an immediate target level while 57,500 is immediate support. 56,300-56,000 will be a strong demand zone at any correction.”
BSE midcap index climbed 4.85% or 1126 points to 24,382 and small cap index gained 3.89% or 1021 points to 27,305 in last five trading sessions.
Bank Nifty rose 3.18% or 1,133 points to 36,761 during the week. Among BSE sectoral indices, BSE consumer durables index was the top gainer (pointwise), zooming 7.67% or 2,770 points to 38,881 during the last five trading sessions.
Other key indices also ended in the green. While BSE IT index rose 455 points to 34,409, capital goods index surged 1089 points to 25,559. BSE bankex rose 3.47% or 1403 points to 41,882.