Stock Market Highlights, Aug 14: Benchmarks end up; IT shines, Metals slip

Stock market highlights on Wednesday, August 14: 26 out of 50 constituents of the Nifty50 index ended lower, dragged down by Divi's Labs, Hero MotoCorp, and Coal India

Stock market highlights on August 14, 2024: Equity benchmark indices, BSE Sensex and NSE Nifty50, ended in the green on Wednesday. The Sensex added 149.85 points, or 0.19 per cent, to close at 79,105.88, while the Nifty50 advanced 4.75 points, or 0.02 per cent, to 24,143.75.

However, 26 out of 50 constituents of the Nifty50 index ended lower, dragged down by Divi's Labs, Hero MotoCorp, Coal India, UltraTech Cement, and Dr Reddy's Labs with a fall of up to 4.03 per cent.

In the BSE space, 16 out of 30 constituents of the Sensex ended higher with gains led by TCS, HCL Tech, and Tech Mahindra of up to 2.29 per cent. Meanwhile, UltraTech Cement, JSW Steel, Tata Steel, and Adani Ports were among the top laggards with a fall of up to 2.46 per cent.

Broader indices also settled lower, except for the Nifty Next 50 and Nifty 100. The Nifty Smallcap 100 and Nifty Midcap 100 indices settled 0.64 and 0.69 per cent lower, respectively.

Among the sectors, the IT index outperformed other indices, settling 1.58 per cent higher with gains led by TCS and HCL Tech.

Shares of metal companies were under pressure, with the Nifty Metal index ending 1.26 per cent lower, after the Supreme Court (SC) permitted state governments to impose taxes on mining and related activities retrospectively. NMDC, Hindustan Copper, National Aluminium, SAIL, and Ratnamani Metals ended down by up to 6 per cent on the NSE.