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Stock Market Live Updates: Sensex, Nifty Up 1% - CurrencyVeda
November 22, 2024

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Stock Market Live Updates: Sensex, Nifty Up 1%

Editor Currencyveda04 mins
Indian Stock Market

August 9, 2024

New Delhi, India

The Indian stock market saw a robust opening on August 9, with the benchmark indices Sensex and Nifty surging over 1% in early trade. Strong buying interest in information technology (IT) stocks and positive cues from Asian markets propelled the indices higher.

Market Performance:

  • Sensex Soars: The BSE Sensex surged 789 points to reach 79,675, marking a significant gain of 1%. All 30 Sensex firms were trading in positive territory, with major contributions from Tata Motors, Tech Mahindra, Mahindra & Mahindra, HCL Technologies, Power Grid, NTPC, Tata Consultancy Services, and Reliance Industries.
  • Nifty Rallies: The NSE Nifty climbed 235 points, or 0.98%, to trade at 24,352 levels. IT stocks led the rally, with Tech Mahindra, Infosys, TCS, and HCL Tech each gaining 2%.

Ola Electric Shares Make A Muted Debut On NSE and BSE, Listing Flat At ₹76 Per Share

Sectoral Performance:

  • All sectoral indices were trading in green, with Nifty IT, Nifty Metal, Nifty Auto, and Nifty Oil and Gas leading the gains.
  • Broader markets also showed strength, with the MidCap index rising 0.89% and the SmallCap index surging 0.90%.

Ola Electric IPO:

  • Listing and Performance: Ola Electric made its stock market debut today, listing at par with the issue price of ₹76. However, within minutes of listing, Ola Electric shares surged by 16%, reflecting strong investor interest despite a muted opening.
  • Market Reaction: The strong post-listing performance of Ola Electric is seen as a positive signal for the company, which recently concluded its IPO.

Other Key Movers:

  • Eicher Motors: Shares of Eicher Motors jumped 4% following a solid Q1 earnings report.
  • HDFC Life: HDFC Life was the only laggard among the top performers, while RVNL shares fell 4% after reporting a 35% decline in Q1 profit year-on-year.

(More to come)

Q1 Results

Currency Market Updates

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.

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