August 20, 2024
New Delhi, India
Stock Market Live
Benchmark indices BSE Sensex and NSE Nifty50 opened higher on Tuesday, buoyed by strong global cues. The positive sentiment continued throughout the day, with both indices closing the trading session on a positive note.
Market Performance: As of 1:50 PM, the BSE Sensex was trading at 80,867.28, up 442.60 points or 0.55%, while the NSE Nifty50 was up 147.95 points or 0.60%, trading at 24,720.60. The market gains were driven by strong performances in financial stocks and broader market indices.
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Top Gainers: On the NSE, SBI Life Insurance, HDFC Life, and Bajaj Finserv led the gains, while on the BSE, Bajaj Finserv, IndusInd Bank, and Tech Mahindra were the top performers. The Nifty Financial Services and PSU Bank indices were the top sectoral gainers, rising up to 1.83%.
Broader Markets: The broader markets also saw a positive trend, with the MidCap index climbing 0.74% and the Nifty SmallCap trading 0.76% higher, reflecting widespread buying interest across market segments.
Sectoral Performance: Except for FMCG, all other sectoral indices closed in the green. The Bank Nifty saw a notable increase, rising by 361 points or 0.72% to close at 50,729.50. The Nifty Midcap 100 gained 450 points or 0.78%, finishing at 58,210. The gains in financial, healthcare, IT, metal, and power stocks contributed significantly to the overall market performance.
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Closing Bell: The BSE Sensex closed 289 points higher, ending the day at 80,713.64, while the NSE Nifty 50 gained 100.80 points, closing at 24,673.45. The strong performance of financial stocks, particularly SBI Life Insurance, HDFC Life, Bajaj Finserv, Shriram Finance, and IndusInd Bank, underpinned the day’s gains. Conversely, ONGC, Bharti Airtel, Adani Enterprises, Cipla, and Apollo Hospitals were among the top losers.
Market Outlook: As the market continues to show strength, attention shifts to the upcoming speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium. Investors will be closely watching for insights into future interest rate policies, which could impact global market dynamics.
The Indian stock market ended Tuesday’s session on a high note, driven by strong performances in financial and broader market indices. As global cues remain favorable, market participants are advised to monitor sectoral rotation activities and key economic indicators closely.
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