Sensex, Nifty scale new peaks; RIL, HDFC duo lead rally

Tata Steel was the top gainer in the Sensex pack, rallying nearly 4%, followed by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries.

Equity benchmarks Sensex and Nifty raced to new peaks on August 16 on account of healthy buying in heavyweights Reliance and HDFC twins as well as IT and pharma shares. At the closing bell, the BSE Sensex was quoted higher by 145.29 points or 0.26% at a new closing high of 55,582.58. It also hit a record intra-day high of 55,680.75. Similarly, the broader NSE Nifty advanced 33.95 points or 0.21% to mark a fresh closing high of 16,563.05. During the day, it rose to new intra-day peak of 16,589.40.