August 23, 2024
New Delhi, India
Stock Market Today
Indian benchmark indices Sensex and Nifty concluded a volatile trading session on August 23, 2024, with minimal gains as investors remained cautious ahead of Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium. The speech is expected to provide insights into potential interest rate cuts by the Fed later this year.
Market Performance: At the closing bell, the BSE Sensex recorded a slight increase of 33.02 points, or 0.04%, ending at 81,086.21. Similarly, the Nifty 50 edged up by 11.65 points, or 0.05%, to settle at 24,823.15. The session saw the indices fluctuating within a narrow range as market participants awaited further direction from global cues.
Top Gainers and Losers: In terms of individual stock performance, Tata Motors, Sun Pharma, Bharti Airtel, Bajaj Finserv, and ICICI Bank emerged as the top gainers on the BSE Sensex. Conversely, Tech Mahindra, HCLTech, Asian Paints, Titan, and Infosys were among the top losers, with 13 of the 30 Sensex stocks closing in the red.
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On the Nifty 50, Bajaj Auto, Coal India, Bharti Airtel, Tata Motors, and Sun Pharma led the gains, while LTIMindtree, Wipro, ONGC, Asian Paints, and Titan were the top drags. The mixed performance of these stocks reflected the cautious sentiment prevailing in the market.
Sectoral Performance: The Auto sector stood out as the only sectoral gainer, closing 1.12% higher, supported by strong performances from Tata Motors and Bajaj Auto. In contrast, the Realty index experienced the steepest decline, shedding 2.24%, followed by the Media and IT indices, both of which closed lower by around 1%.
The BSE Midcap index fell by 0.5%, while the Smallcap index ended flat, highlighting the mixed sentiment across broader market segments.
The Indian stock market’s flat closing on August 23 reflects the ongoing uncertainty among investors as they await key signals from the global economic landscape. With Powell’s speech at the Jackson Hole Symposium expected to offer critical insights into the future trajectory of US interest rates, market participants remain on edge, anticipating how these developments might impact global markets in the near term. As the trading week comes to an end, all eyes are on the Federal Reserve’s next moves and their potential influence on the Indian economy.
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