August 21, 2024
New Delhi, India
Stock Market Today
In a day marked by narrow trading ranges, Indian stock markets ended on a positive note with the BSE Sensex closing 102 points higher at 80,903.64, and the NSE Nifty 50 gaining 0.34% to close at 24,783.20. Despite the mixed session, over 400 stocks hit their upper circuit, while 318 stocks reached their 52-week highs.
Market Overview: The session saw the Sensex initially dip by 50 points to 80,750 levels, while the Nifty50 managed a modest gain of 28 points, reaching 24,728 levels during the day. However, a late-session buying spree helped both indices recover, with the Sensex gaining 102 points to close at 80,905, and the Nifty 50 finishing 0.29% higher at 24,770.
Top Gainers and Losers: Among the large-cap stocks, Divi’s Laboratories, Titan Company, Hindalco, HDFC Life, SBI Life, Dr. Reddy’s Laboratories, and Cipla emerged as the top gainers. On the flip side, Ultratech Cement, Tata Steel, HDFC Bank, Tech Mahindra, State Bank of India (SBI), and ICICI Bank were the top losers.
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Sectoral Performance: The broader markets showed a positive trend, with the Nifty SmallCap index rising by 1% and the Nifty MidCap index trading 0.21% higher. Sectorally, Nifty FMCG and Media led the gains, both rising over 1%. However, indices for IT, Banks, and Realty sectors faced selling pressure, dropping up to 1.45%.
IPO Update: The Interarch Building IPO continued to attract significant attention, being subscribed over 28 times on its last day of bidding, reflecting strong investor demand.
Also Read: PM Modi Congratulates RBI Governor Shaktikanta Das on ‘A+’ Rating in Global Finance Report
Wednesday’s trading session was characterized by volatility, with key indices fluctuating within a narrow range before closing on a positive note. The strong performance of over 400 stocks hitting upper circuit levels, coupled with 318 stocks reaching their 52-week highs, highlighted the underlying bullish sentiment in the broader market. Investors will keep a close eye on sectoral movements and upcoming IPO results for further market cues.
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