Sensex, Nifty End Higher Amid Profit Booking, Bharti Airtel Climbs 4%

Domestic markets closed higher for the fourth consecutive session on Thursday, August 5 led by gains in Technology stocks and heavyweights like RIL and HDFC Bank. The BSE Sensex rose 123.07 points to close at 54,492.84, and the Nifty added 35.80 points to close at 16,294.60.

Both Sensex and Nifty scaled fresh highs of 54,717 and 16,349, respectively, in the day's trade on Thursday. Bharti Airtel emerged as the top gainer in the Sensex pack as it advanced over four per cent after the company's revenue for the quarter came in at Rs 26,854 crore a day earlier. ITC,

Experts were of a view that upbeat quarter earnings, lifted restrictions in economically significant states, vaccination progress in the country, primary market buzz, and the FPI sentiment is currently driving the markets to scale fresh peaks.

"Traders took support with report that foreign portfolio investors (FPIs) stood as buyers of domestic stocks to the tune of Rs 2,828.57 crore," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

Sector-wise, the Technology, Metals, and FMCG counters outperformed in the intraday session. On the flipside, the Banks and Financial sectors underwent profit taking after a stellar performance in the previous session. The Nifty metal index was the top gainer, adding over a per cent led by gains in SAIL(+4 per cent), NALCO(+3.48 per cent), and Jindal Steel(+2.26 per cent).

The broader markets however closed with mixed figures on Thursday. The BSE Midcap closed up by 22 points, while the Smallcap pack fell 116.06 points. Experts have predicted a slowdown in the broader markets given that the premiums being higher than that the benchmarks.

Overall in the market, 1036 shares advanced, 1933 shares declined, and 101 shares were unchanged.