Stock Market Highlights, Aug 21: SmallCap index outruns peers; RML, Nelco, Shriram Prop top gainers
Stock Market Highlights on Wednesday, August 21: While the BSE Sensex ended at 80,905, up 102 points, the Nifty settled 71 points higher at 24,770
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Closing Bell on Wednesday, August 21, 2024: Indian stock markets were lacklustre in trade for most part of the session on Wednesday amid no major triggers. Fag-end recovery, however, led by consumption (FMCG) plays helped benchmarks settle higher.
The BSE Sensex, which gyrated in a band of 326 points, ended at 80,905, up 102 points or 0.13 per cent. The Nifty, too, settled 71 points or 0.29 per cent higher at 24,770.
The BSE Sensex, which gyrated in a band of 326 points, ended at 80,905, up 102 points or 0.13 per cent. The Nifty, too, settled 71 points or 0.29 per cent higher at 24,770.
Titan, Asian Paints, ITC, HUL, Bajaj Finserv, Nestle India, Adani Ports, and JSW Steel were the top Sensex gainers today, rising in the range of 1 per cent to 2.5 per cent.
Ultratech Cement, Tech M, Tata Steel, Power Grid, HDFC Bank, SBI, HCL Tech, and ICICI Bank, on the other hand, were the top laggards, down up to 1.6 per cent.
In the broader markets, the BSE SmallCap index stole the show as it advanced 0.87 per cent. The BSE MidCap index, meanwhile, rose 0.43 per cent.
Among sectors, the Nifty Realty index slipped 1.3 per cent, followed by the Nifty PSU Bank index (down 0.4 per cent). On the upside, the Nifty Media index gained 1.2 per cent, and the Nifty Pharma added 0.9 per cent.
3:56 PM
Tech View: 'Sector rotation is helping the Nifty to stay at elevated levels'
Nifty opened on a flat note and consolidated during most part of the day. A late surge helped the Nifty to close with gains of aproximately 71 points. On the daily charts, we can observe that the nifty is heading towards 24830 – 24900 zone. Sector rotation is helping the Nifty to stay at elevated levels. A negative divergence is developing on the momentum indicator so the upmove is likely to be slow and might encounter intraday pullbacks. In terms of levels, 24550 – 24500 shall act as a crucial support zone and on the upside 24900 – 24960 shall act as an immediate hurdle from short term perspective.
Views by: Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas
3:54 PM
Views by: Vinod Nair, Head of Research, Geojit Financial Services
'Indian market traded on tight range with positive bias supported by strong DII flows'
The Indian market traded on a tight range with a positive bias supported by strong DII flows. While defensive sector outperformed due to a continued shift in portfolio towards FMCG, consumer, commodities, and pharma. Global markets exhibited a mildly cautious tone ahead of the release of the FOMC minutes later today. Currently, the expectation of a rate cut remains high, given the fall in US inflation and moderation in overall growth.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:38 PM
Sector Update: Nifty Realty was top loser
3:37 PM
Index heatmap check: Titan, Asian Paints and ITC among top gainers
3:36 PM
Broader markets close higher; Nifty SmallCap up 1.20%
3:34 PM
Stock Market Closing Bell: Nifty settles 71 points higher at 24,770 levels
3:32 PM
Stock Market Closing Bell: Sensex settles 102 points higher at 80,905 levels
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ALERT:: Range-bound Nifty holds 24,700 level, up 37 pts
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Topics : MARKET WRAP MARKET LIVE Markets Sensex Nifty share market S&P BSE Sensex Nifty50 MARKETS TODAY
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First Published: Aug 21 2024 | 7:39 AM IST
