Benchmark indices today (3rd August 2021) recorded their sharpest intra-day gains since May 21 as better-than-expected June quarter performance by India Inc restored investor confidence in faster-than-expected economic recovery.
Amid a steep rally, investors got richer by Rs 2.37 trillion, BSE data showed.
The BSE barometer of 30-shares zoomed 937 points in the intra-day deals and hit a record high level of 53,888 on the BSE, led by Titan Company (up 4 percent), HDFC, IndusInd Bank, Sun Pharma, SBI, and Nestle India. It pared gains marginally and ended at 53,823 levels, up 873 points or 1.65 percent.
The broader Nifty50, meanwhile, hit a new peak of 16,147 on the NSE. It ended with 246 points, or 1.55 percent, gains at 16,131 levels.
A long bull candle was formed on the daily chart that indicates a sharp upside breakout of the two months' sideways range of around 15960 levels. This is a positive indication and signals more upside in the near term.
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