August 28, 2024
New Delhi, India
Stock Market Today
Indian equity indices closed on a positive note on August 28, with the Nifty reaching a new high around 25,050. Gains in IT, Pharma, and Healthcare sectors contributed to the market’s performance, while media and FMCG stocks lagged.
Market Highlights:
- Closing Figures: The BSE Sensex ended the session up 73.80 points or 0.09% at 81,785.56, and the Nifty was up 34.50 points or 0.14% at 25,052.30.
- Advance-Decline Ratio: About 1,729 shares advanced, 2,049 shares declined, and 85 shares remained unchanged, reflecting a mixed market sentiment.
Top Gainers and Losers:
- Gainers: Leading the Nifty were LTIMindtree, Wipro, Divis Labs, IndusInd Bank, and Bharti Airtel, with significant gains on the day.
- Losers: On the downside, Maruti Suzuki, Nestle India, Asian Paints, Adani Enterprises, and Britannia Industries were the biggest laggards.
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Sector Performance:
- Gains: The IT, Pharma, and Healthcare sectors all rose by more than 1%, reflecting strong investor interest.
- Losses: Conversely, the Media index fell by 1.4%, while the FMCG and PSU Bank indices declined by 0.4% each.
- Midcap and Smallcap Indices: Both the BSE Midcap and Smallcap indices ended the day flat, showing little change.
Market Sentiment:
- Broader Market Movement: At 3 pm, the BSE had 1,813 stocks advancing against 2,119 declining, with 105 stocks remaining unchanged. A total of 4,037 stocks were traded, with 349 hitting 52-week highs and 16 reaching 52-week lows.
- Circuit Breakers: 343 stocks traded in the upper circuit, while 241 hit the lower circuit, indicating a balanced market momentum.
Outlook: The Sensex and Nifty continue to hover near record highs, extending gains for the seventh consecutive day, although traders remain cautious about possible profit booking ahead of key macroeconomic data releases later in the week.
With the Nifty setting new highs, gains were led by robust performances in IT and Pharma, suggesting continued investor confidence in these sectors. However, broader market mixed signals and upcoming economic data could drive market volatility in the near term.
Disclaimer:
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