August 7, 2024
New Delhi, India
Indian benchmark indices closed on a robust note on August 7, with the Nifty touching 24,300 and the Sensex surging by 875 points. Investors are now keenly awaiting the outcome of the Reserve Bank of India’s (RBI) policy meeting.
Market Highlights:
- The NSE Nifty 50 closed 1.27% higher at 24,297, while the BSE Sensex closed 1.11% higher at 79,468.
- The Bank Nifty index was up by 370 points, closing at 50,119.
- Major Nifty gainers included Coal India, Adani Ports, Power Grid Corp, Cipla, and HCL Technologies.
- Key losers were IndusInd Bank, Eicher Motors, Britannia, Tech Mahindra, and Asian Paints.
- All sectoral indices finished in the green, with significant gains in metal, media, power, oil & gas, and capital goods sectors, each up by 2-3%.
- The broader indices mirrored the benchmark indices’ positive performance, indicating a strong market sentiment.
Ola Electric IPO Allotment Likely Today: Key Details and How to Check Status
Midcap and Smallcap Performance:
- The BSE Midcap and Smallcap indices both surged by over 2%, reflecting the broader market strength.
- Notable performers included Zomato, which rallied 7%, and Nykaa, which gained 4%.
FPIs Pour Significant Investments Into IT Sector in July
Sectoral Performance:
- Nifty Realty, Nifty Metal, Nifty Media, and Nifty PSU Bank led the sectoral gains.
- All sectoral indices traded in the green throughout the day.
- ONGC, Coal India, Adani Enterprises, Power Grid, and Adani Ports led the gains on the NSE.
- IndusInd Bank, Britannia, Asian Paints, and Titan Company saw declines.
Brainbees Solutions IPO Day 2 Live Updates: FirstCry IPO Subscribed 17% So Far
The Indian stock markets ended on a high note, driven by strong sectoral performance and anticipation of the RBI policy outcome. Investors will now focus on the central bank’s decisions and their implications for the market.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
