Sensex Crosses 55,000 For The First Time, Nifty Nears 16,450

The bull run on the Dalal-Street continues as the Sensex has crossed 55,000 for the first time in history and Nifty is also trading at an all-time high on Friday, August 13. The BSE Sensex added another 1000 points in a span of just a week. On August 4, the Sensex crossed the 54,000 level.

At 10:00 AM, the BSE Sensex was up 265.38 points at 55,109.36, and the Nifty was at 16,441.65, up 77.25 points. Shares of HDFC, ITC, Bajaj Auto, and Larsen were the top boosts for the Sensex as they gained over a per cent each in the morning trade on Friday. Earlier today, the Nifty made a fresh record high of 16,447.50 and Sensex at 55,124.74.

"Going ahead, we expect index to extend the ongoing upward momentum and gradually head towards our earmarked target of 16600 in coming weeks," said ICICI Securities in a note.

Sector-wise, all other sectors added gains except for the pharma sector. The pharma sector continued to decline for the second consecutive day on sustainable outflows from the FIIs in the pack, experts said. The FMCG sector gained the most led by shares of Varun Beverages (+2.31 per cent), P&G(+2.10 per cent), and Tata Consumer Products (+1.97 per cent).

Tracking the FII and DII flows, the Foreign institutional investors (FIIs) net sold shares worth Rs 212.11 crore, and domestic institutional investors (DIIs) net purchased shares worth Rs 307.75 crore on August 12, as per provisional data available on the exchanges.

In the overall market breadth, 1119 shares advanced and 598 shares declined at the time of filing in the NSE.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.