After the US indices S&P 500 and Dow Jones set new highs in overnight trade, Indian indices in line in trade on August 13, 2021 (Friday) logged fresh all time, with Sensex hitting levels of 55,000 for the first time and logging a new life time high of 55,488, while Nifty scaled to new high of 16544. Broader markets however underperformed after previous day's resilience, with Nifty Midcap 100 down 0.33%.
At the close, Sensex settled higher by 593 points or over 1 percent at 55,437, while Nifty closed with gains of 164 points or over 1% at 16,529
The street took comfort from the latest July retail inflation data that was released on August 12 and considering the lower inflation figures of 5.59% it is expected that RBI may continue with low rates.
Top gainers on the Nifty in today's landmark session were stocks like TCS, Tata Consumer Products, HCL, Tata Steel and Larsen and Toubro, while the set of laggards include stocks such as Eicher Motors, Dr Reddys, Cipla, Power Grid and Britannia.
Nifty sectoral indices traded mixed with Nifty IT leading the set of gains, while sectoral losers in an otherwise strong market were auto, realty and pharma segment.
Individually, TCS stock rallied with gains of over 3 percent while its market capitalization at the close of the session stood at Rs. 12,81,129 crore.
The board of Star Cement fixed record date for buyback as August 25 for determining the members of the company who shall be eligible to participate in the buyback.
Meanwhile, amid mixed global cues, European markets were trading on a firm note with gains of up to 0.5% on German DAX.