Sensex, Nifty Edge Higher Led By Gains In IT, State-Run Banking Shares

Edited By Abhishek Vasudev

09 Aug 2021, 09:48 AM IST

The Sensex advanced as much as 229 points to hit an intraday high of 54,507.15.

The Indian equity benchmarks edged higher on Monday led by gains in information technology, state-run banking and pharma shares. The Sensex advanced as much as 229 points to hit an intraday high of 54,507.15 and Nifty 50 index rose 56 points to hit an intraday high of 16,294.65. Infosys, Tech Mahindra, Tata Consultancy Services, HDFC and Hindustan Unilever were among the top movers in the Sensex.

As of 9:21 am, the Sensex was up 170 point or 0.31 per cent at 54,448 and Nifty 50 index rose 49 points or 0.3 per cent to 16,287.

Meanwhile, Asian shares wobbled on Monday amid sharp losses in gold and oil prices, while the dollar reached four-month highs on the euro after an upbeat US jobs report lifted bond yields.

Sentiment was shaken by a sudden dive in gold as a break of $1,750 triggered stop loss sales to take it as low as $1,684 an ounce. It was last down 1.4 per cent at $1,738. Holidays in Tokyo and Singapore made for thin trading conditions, leaving MSCI's broadest index of Asia-Pacific shares outside Japan down 0.5 per cent.

Back home, nine of 13 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty FMCG and Information Technology indexes' nearly 1 per cent gain. Realty, Consumer Durables and Auto shares were also witnessing buying interest.

On the other hand, Oil & Gas, Pharma, Healthcare and Metal indices were trading lower.

Mid- and small-cap shares were trading on a subdued note as Nifty Midcap 100 and Nifty Smallcap 100 indices were little changed.

Mahindra & Mahindra, Bajaj Finserv, IndusInd Bank, Asian Paints, Tech Mahindra, Titan, Axis Bank, Bajaj Auto, Hero MotoCorp and ITC were among the top Nifty gainers.

On the flipside, JSW Steel, Tata Steel, Tata Consumer Products, Adani Ports, Reliance Industries, ONGC, Cipla, Dr Reddy's Labs, Sun Pharma, Indian Oil and Bharat Petroleum were among the losers.

The overall market breadth was positive as 1,700 shares were trading higher while 1,087 were trading lower on the BSE.