August 26, 2024
New Delhi, India
Stock Market Today
Indian equity markets had a bullish close on Monday, August 26, 2024, with the Nifty 50 crossing the 25,000 mark and the Sensex adding 612 points. The markets were buoyed by strong performances in the IT, Metal, and Realty sectors, reflecting positive investor sentiment.
Key Market Highlights:
- Nifty 50: The Nifty 50 index closed at 25,010.60, up 187.45 points or 0.76%.
- Sensex: The Sensex ended at 81,698.11, up by 611.90 points or 0.75%.
- Market Breadth: Out of the total stocks, 2075 shares advanced, 1791 shares declined, and 138 shares remained unchanged.
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Top Gainers:
- Hindalco
- NTPC
- HCL Technologies
- Bajaj Finserv
- ONGC
These stocks saw gains of up to 4.24%, contributing significantly to the market’s positive momentum.
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Top Losers:
- Apollo Hospitals
- Hero MotoCorp
- Adani Ports
- Eicher Motors
- Maruti Suzuki
These stocks were the major laggards of the session.
Sectoral Performance: Except for PSU Banks, all other sectoral indices ended in the green. The Information Technology, Metal, Oil & Gas, and Realty sectors were the top performers, each gaining between 1-2%. The BSE midcap index rose by 0.6%, and the smallcap index edged up by 0.2%.
Noteworthy Movements:
- Paytm (One 97 Communications): Shares of Paytm plummeted 8.88% to Rs 505.25 during the session, before closing down 4.25% at Rs 530.95 on the BSE. The drop followed reports that the company’s founder, Vijay Shekhar Sharma, had received a show-cause notice from SEBI.
Broader Market Insights: The rally in Indian markets was supported by a positive sentiment in US markets and foreign fund inflows. Investors were optimistic following US Fed Chair Jerome Powell’s speech at the Jackson Hole meeting, where he hinted at potential rate cuts in September, suggesting a policy loosening.
The Indian stock markets began the week on a strong note, with the Nifty crossing the 25,000 threshold and the Sensex continuing its upward trajectory. The IT, Metal, and Realty sectors led the charge, with most major indices closing in the green. Investors remain hopeful that the positive momentum will continue, especially with global cues suggesting a favorable environment for equities.
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