Sensex gains over 4,000 pts in Aug

The 30-share BSE benchmark Sensex soared over 4,000 points in August, over nine per cent growth, to scale the 57,000 mark for the first time on Tuesday as the bull run continues in the equity market. This is the fourth day of rally in the equity market, during which the BSE benchmark has jumped 1,608.18 points or 2.87 per cent.

The bluechip index reached an all-time intra-day high level of 57,124.78 on Tuesday, the last trading of August, a month that has seen the stock market making many new records. Reflecting the strong stock market sentiments despite lingering worries over possible tapering by the US Federal Reserve, the market capitalisation of BSE-listed companies jumped to an all-time high of 2,50,02,084.01 crore on Tuesday. Earlier, on August 4, for the first time, the BSE Sensex sailed past 54,000 points, both at intra-day and closing levels. After nine days, on August 13, the index crossed the 55,000 mark and also closed above this level. The next 1,000 points-level was scaled in less than a week as the benchmark climbed the 56,000-peak for the first time in intra-day on August 18. Then on August 27, it closed above the 56,000-mark for the first time.

"Both Nifty and Sensex touched the mark of 17,000 and 57,500 respectively making their new lifetime highs. The rally is expected to continue unless there is any change in global cues," Rahul Sharma, Co-Founder, Equity99 said.

"Led by bulls, domestic indices breached record highs amid broad-based buying due to continuation of Fed's dovish policy and the expected release of domestic GDP data," said Vinod Nair, head (research) at Geojit Financial Services.