August 29, 2024
New Delhi, India
Stock Market Today
On Thursday, Indian benchmark indices rebounded strongly, with the BSE Sensex and NSE Nifty 50 reaching record highs. The Sensex closed at 82,135 points, marking a gain of 349 points or 0.43%. The Nifty 50 ended at 25,152, up by 100 points or 0.40%.
Top Gainers and Losers
Among the top gainers on the Nifty were Bajaj Finserv, Bajaj Finance, Reliance Industries, Britannia Industries, and BPCL. Conversely, the major losers included Grasim Industries, Mahindra & Mahindra (M&M), Eicher Motors, Hindalco, and Adani Enterprises.
Sectoral Performance
While the overall market showed strength, the BSE Midcap and Smallcap indices both fell by 0.5%. Most sectoral indices traded in the red, with declines seen in auto, capital goods, media, metal, and power sectors, down by 0.5-1%. However, the IT, oil & gas, and FMCG sectors posted gains.
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Market Highlights
The market’s positive performance was driven by gains in financial and IT stocks. The Bank Nifty index rose slightly by 8.90 points or 0.02% to 51,152.75. Auto and FMCG stocks were particularly strong performers, outpacing other sectors. Metal and Pharma stocks, however, saw declines.
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RIL’s Bonus Issue Announcement
Reliance Industries (RIL) announced that its board will meet on September 5, 2024, to consider a 1:1 bonus issue. This move could potentially double shareholders’ shares without additional cost by utilizing the company’s reserves.
Also Read: Vedanta to Consider Third Interim Dividend on Sept. 02; Sets Record Date for Sept. 10
Disclaimer:
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