The in-plane resistivity, Hall resistivity and magnetization of graphite were investigated in pulsed magnetic fields applied along the textit{c}-axis. The Hall resistivity approaches zero at around 53 T where the in-plane and out-of-plane resistivities steeply decrease. The differential magnetization also shows an anomaly at around this field with a similar amplitude compared to that of de Haas-van Alphen oscillations at lower fields. This transition field appears insensitive to disorder, but reduces with doping holes. These results suggest the realization of the quantum limit states above 53 T. As a plausible explanation for the observed gapped out-of-plane conduction above 53 T, the emergence of the excitonic BCS-like state in graphite is proposed.
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