Sensex Trades At Fresh Record High As IT & Metals Shine

The Dalal-Street extended its previous day gains tracking positive cues from the foreign markets and mainly led by advances in the metal stocks. The BSE Sensex logged a fresh high of 56,188.49 and the Nifty traded above 16,700 in the opening trade on Wednesday, August 25.

At 10:05 AM, the Sensex was up 171.41 points at 56,130.39, and the key index Nifty was at 16,684.30 up 59.70 points. The Sensex saw 20 advances and 10 declines in the morning trade. Shares of TCS, Nestle, Infosys, and Tata Steel were the top index gainers as the stocks added over a per cent each and drove the Sensex higher.

Experts feel that the overall trend of the market remains positive led by the opening up of the economy, improving economic data points and pickup in vaccinations.

Buying interest was seen in all major sectors except for the pharma sector. The Nifty IT and Metal indices gained as much as one per cent led by sustained buying in the counters. Shares of COFORGE surged the most in the IT pack as the stock was up nearly five per cent, while those of L&T Infotech, TCS, and Infosys gained over a per cent each.

The broader markets also continued to recover after a long haul of correction in the previous week. The BSE Smallcap index was up nearly one per cent led by shares of Centrum Capital and Venkys as the scrips gained more than nine per cent each.

In the overall market breadth at the time of filing, 1355 shares advanced and 356 scrips declined 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.