Nifty surges for sixth day

The Nifty rose for the sixth day in a row on rising interest rates in the stock market. The Sensex gained for the fourth day in a row. Russia’s approval of the COVID-19 vaccine has boosted the stock market.

The Sensex is up 225 points and the Nifty 52 points on August 11. The Sensex closed at 38,407 points. The Sensex had gained over 38,556 points during the trading session.
The Nifty closed at 11,322. The stock had touched at 11,373 points during the trade session. The Nifty closed above 11,300 for the first time since the stock market crash in March.

Banks and metals stocks were the main gainers on the day. IDFC First Bank rose 7.49 per cent. Nifty Bank and metal indices gained over one-and-a-half per cent. At the same time, pharma stocks were gaining ground. The Nifty Pharma index was down 1.42 per cent.

The top five gainers were Zee Limited, JSW Steel, Axis Bank, BPCL and IndusInd Bank. Zee Ltd. gained 5.14 per cent.

Sree Cements, Titan, UPL, Cipla and Dr. Reddy’s Laboratories are the top 5 losers in the Nifty. Sree Cement and Titan fell more than 3.5 per cent.

Thirty-three stocks included in the Nifty 33 gained while 17 stocks lost ground.