Nifty Closes Above 17,100, Sensex Jumps 662 Points

Nifty Closes Above 17,100, Sensex Jumps 662 Points

Nifty and Sensex closed at record high levels for the second consecutive day on August 31 supported by the IT, power, pharma and metal stocks.

At close, the Sensex was up 662.63 points or 1.16% at 57,552.39, and the Nifty was up 201.20 points or 1.19% at 17,132.20.

About 1434 shares have advanced, 1537 shares declined, and 105 shares are unchanged.

On the Nifty 50 index, Bharti Airtel (7.03 per cent), Bajaj Finance (5.01 per cent), Eicher Motors (4.91 per cent), Hindalco (4.52 per cent) and Shree Cements (4.16 per cent) were the top gainers for the day, while Tata Motors (-1.59 per cent), Nestle (-1.39 per cent), IndusInd Bank (-1.26 per cent), Reliance Industries (-0.53 per cent) and BPCL (-0.09 per cent) were top losers for the day.

On the sectoral front, all the sectoral indices ended in the green, with IT, power, metal, oil & gas indices up 1 percent each.

The BSE Midcap and Smallcap indices gained 0.83 per cent and 0.86 per cent respectively.

Author’s View: If the market sustains above the level of 17000, the market expects to gain momentum, leading to an upside projection till 17200-17250 level.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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