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Sensex Crosses 54,000 For First Time In History, Nifty Above 16,150

Adani Green, Apollo Tyre, HPCL, State Bank of India, Tata Communications, Titan Company, Bosch, and Godrej Consumer Products are scheduled to release their Q1 earnings today.

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The Dalal-Street continued its bullish sentiment for the third day in a row as the markets edged higher on Wednesday, August 4. The BSE Sensex crossed yet another milestone as it jumped above 54,000 for the first time in history.

The banking stocks fueled the rally and led the indices to trade higher in the morning deals. At 10:10 AM, the BSE Sensex was at 54,290.22, up by 466.86 points, and the Nifty-50 was trading higher by 121.10 points at 16,251.85. In the early trade, the Sensex made an all time high of 54,326.56 and Nifty at 16,163.80.

Shares of HDFC stood as the top gainer of the 30-share pack Sensex as the stock advanced more than three per cent in the morning trade. Tata Steel, ICICI Bank added two per cent, while Kotak Mahindra Bank and Reliance Industries gained over a per cent each.

Among the sectors, the IT, FMCG, and Realty stocks witnessed some profit booking in the early trade, while Banks, Financials and Metals outperformed. Shares of SAIL, Coal India, NALCO, and JSW Steel surged over a per cent each and led the overall metal index up by one per cent.

The big positive for the market is also the FIIs turning positive after an entire month of outflows in July. More than 23,000 crore was pulled out by the Foreign investors in the previous month. However, on Tuesday, August 3, FIIs net purchased shares worth Rs 2,116 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 298 crore in the equity market on August 3, as per provisional data available on the exchanges.

Moving ahead, the strong earnings session will continue to provide some action to the markets. Later today, Adani Green, Apollo Tyre, HPCL, State Bank of India, Tata Communications, Titan Company, Bosch, and Godrej Consumer Products are scheduled to release their Q1 earnings.

Overall, 1161 shares gained and 531 shares declined in the NSE at the time of filing.


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