Stock Market Updates: Sensex hits all-time high, Nifty above 16,800; Titan, Tata Steel top gainers

Equity benchmark Sensex jumped over 300 points to touch an all-time high of 56,469.86 while Nifty surged 100 points to cross 16,800 mark for the first time. At 09:18 hours, the 30-share BSE index was trading 322 points or 0.57 per cent higher at 56,447.29, and the broader NSE Nifty was up 84.75 points or 0.51 per cent to 16,789.95.

Titan and Tata Steel were the top gainers in the Sensex pack, advancing over 2 per cent, followed by M&M, Bharti Airtel, Maruti Suzuki, Bajaj Finserv, L&T and Asian Paints.

On the other hand, Power Grid and DRL were among the losers.

On August 27, the benchmark indices closed at all-time highs amid mixed global cues. Sensex ended 175 points higher at 56,124 and Nifty gained 68 points to 16,705. Sensex has risen 17.54% or 8,373 points and Nifty has climbed 19.48% or 2,723 points since the beginning of this year.

In a year, Sensex zoomed 43.49% or 17,011 points and Nifty clocked a stellar rally of 44.52% or 5,145.95 points.

Deepak Jasani, Head of Retail Research, HDFC Securities said,” If Nifty opens above 15,722 and remains high for the first hour of trade on Monday, we could see further improvement in the Nifty as well as the broader markets. 16,543 on the downside could be a crucial support.”

Foreign institutional investors (FIIs) sold shares worth Rs 778.75 crore on August 27 and DIIs bought shares worth Rs 1,646.19 crore, as per provisional data available on NSE.