Bulls frenzy continue in markets; Sensex tops 59,600, Nifty 50 above 17,550; Bank outperforms; Bajaj twins, ITC, Maruti lead

The domestic equities were in a super rally despite mixed Asian markets with Chinese and Australian shares underperforming.

Sep 17, 2021 09:09 IST India Infoline News Service

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The bulls frenzy even continued on the last day of this week's trading session as both Indian benchmarks extended their fresh historic highs on Friday. Sensex and Nifty 50 had topped more than 59,600 and 17,750 for the first time. A broad-based buying was witnessed across sectoral indices with banking stocks leading the bull charge. The domestic equities were in a super rally despite mixed Asian markets with Chinese and Australian shares underperforming.

In the early deals, Sensex has hit a new 52-week high of 59,606.79, while Nifty 50 clocked a new all-time high of 17,754.15.

At around 09.55 am, Sensex was trading a new 52-week high of 59,550.31 up 409.15 points or 0.69%. Nifty 50 performed at 17,739.45 rising by 109.95 points or 0.62%.

Today, one can expect some more mid-cap frenzy even as banks see more gains with large buying from foreign investors.

In terms of sectoral indices, on BSE, the Bankex surged more than 300 points, while the Consumer Durables jumped 296 points. IT and Auto index also gained momentum by advancing over 150 points and 180 points respectively. However, the BSE Metal was the top bear nosediving by nearly 400 points.

Top bulls on Sensex were - Bajaj Finserv and Bajaj Finance surging around 3% each, while ITC and Maruti Suzuki climbed 1.5% each. Kotal Bank, Axis Bank and Titan zoomed more than 1% each.

Top bears on Sensex were - Tata Steel diving over 3% followed by Tech Mahindra, Power Grid and IndusInd Bank trading between flat to negative.

Asian markets opened mixed with the Japanese 'Nikkei' trading higher by 160 points even as other indices consolidated. The Hang Seng index for Hong Kong stocks recovered from early losses and picked up the pace by trading nearly 95 points up. Taiwan and South Korean markets also move sideways as semi-conductor manufacturers seek more time to raise output. Australian shares diving nearly 1%.

Overnight, on Wall Street, US markets ended in the red after a volatile session as Dow Jones recovered from lows of the day down 275 to close lower by 60 points, while Nasdaq managed to close in the green. US bond yields closed higher at 1.34% while US$ also closed higher at 92.88 as Gold prices edge lower for 3rd day running.

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