Stock Market Highlights, Aug 30: Benchmarks log record close; Sensex tops 82,350, Nifty near 25,250
Stock Market highlights: The Sensex, and Nifty50 ended at record high closing levels ahead of the Q1 FY25 GDP data to be released today
New Delhi
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Market, BSE, NSE, NIfty(Photo: Reuters)
Stock Market Highlights on Friday, August 30, 2024: Benchmark equity indices ended the week's last trading session at record high closing levels, fuelled by massive buying across sectors. The BSE Sensex added 231.16 points or 0.28 per cent to settle at 82,365.77. The index hit an all-time high of 82,637.03 during the intra-day trade.
Meanwhile, mirroring the Sensex, Nifty50 too settled higher at 25,235.90, up 83.95 points or 0.33 per cent. The index hit an all-time high of 25,268.35 during the intra-day trade on Friday.
The session ended in favour of the bulls as as many as 41 out of 50 constituent stocks of Nifty50 ended with gains, led by Cipla, Bajaj Finance, Mahindra & Mahindra, Divis Labs, and NTPC of up to 2.23 per cent. Similarly, on the BSE, 21 out of 30 listed stocks of Sensex ended in the green with gains led by Bajaj Finance, Mahindra & Mahindra, Bharti Airtel, and NTPC.
Broader indices ended higher with Nifty Midcap and Nifty Smallcap snapping a 2-session losing streak, as Nifty Midcap 100 and Nifty Smallcap 100 added 0.68 per cent and 0.48 per cent, respectively.
Among the sectors, Nifty IT and Pharma hit record highs, settling with gains of 0.46 per cent and 1.48 per cent, respectively. Meanwhile, Bank Nifty, Nifty PSU Bank, and Nifty Auto indices advanced for the second consecutive session. Also, Nifty Realty snapped a 2-session losing streak, led by Prestige, Phoenix Mills, and Oberoi Realty, ending the index higher by 1.83 per cent.
Among the sectors, Nifty IT and Pharma hit record highs, settling with gains of 0.46 per cent and 1.48 per cent, respectively. Meanwhile, Bank Nifty, Nifty PSU Bank, and Nifty Auto indices advanced for the second consecutive session. Also, Nifty Realty snapped a 2-session losing streak, led by Prestige, Phoenix Mills, and Oberoi Realty, ending the index higher by 1.83 per cent.
4:02 PM
Views by: Deepak Jasani, Head of Retail Research, HDFC Securities
Stock Market Tech Outlook: 'Nifty may see trend reversal in coming months'
Nifty rose on Aug 30 with an upgap and closed at record highs. In the process it formed a doji like pattern.
On weekly charts, Nifty rose 1.66%, while on monthly charts it rose 1.14%. On monthly charts, Nifty has formed a hanging man type pattern, suggesting possibility of a reversal in the coming month.
Nifty could take support from 24,971 while 25,400 on the upside could prove to be a resistance in the near term. April-June India GDP number due this evening could minorly influence sentiments either way on Monday.
On weekly charts, Nifty rose 1.66%, while on monthly charts it rose 1.14%. On monthly charts, Nifty has formed a hanging man type pattern, suggesting possibility of a reversal in the coming month.
Nifty could take support from 24,971 while 25,400 on the upside could prove to be a resistance in the near term. April-June India GDP number due this evening could minorly influence sentiments either way on Monday.
Views by: Deepak Jasani, Head of Retail Research, HDFC Securities
3:53 PM
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Stock Market Comment: Will the rally in Sensex, Nifty sustain?
Global markets are currently resonating with the US Fed’s pledges of a rate cut in September. The US & Indian markets have regained the recent highs, reflecting the continuation of this optimism. However, the dollar is strengthening given healthy US GDP growth, strong retail sales and expectation that the upcoming US job claims will be steady leading to shallow rate cuts in the future.
Though the domestic market is currently showing a positive bias, the Indian Q1 GDP growth is expected to be moderate, while premium valuation and a lack of fresh triggers could see further momentum buildup in value stocks.
Though the domestic market is currently showing a positive bias, the Indian Q1 GDP growth is expected to be moderate, while premium valuation and a lack of fresh triggers could see further momentum buildup in value stocks.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:50 PM
Currency check :: Rupee ends flat vs US dollar on Friday
>> Indian rupee ended at 83.87 per US dollar, unchanged from Thursday's close
3:48 PM
IPO Updates :: Baazar Style Retail, ECOS Mobility
>> Baazar Style Retail IPO has been subscribed 43 per cent thus far on Day 1. The bidding has been led by Employees (5.5x),retail investors (70 per cent), and NIIs (33 per cent).
>> The IPO of ECOS (India) Mobility has been subscribed 63.64x so far on the final day. The bidding has been led by QIBs (137x), NIIs 70.8x), and Retail investors (18.67x).
>> Bidding closes at 5:00 PM today
>> The IPO of ECOS (India) Mobility has been subscribed 63.64x so far on the final day. The bidding has been led by QIBs (137x), NIIs 70.8x), and Retail investors (18.67x).
>> Bidding closes at 5:00 PM today
3:44 PM
Stock Market Closing Bell LIVE: The BSE MidCap and SmallCap indices outperform benchmark indices today
>> The BSE MidCap index hit a record high of 49,186.33 during the day
3:42 PM
Stock Market Closing Bell LIVE: Only Media, and FMCG indices ended in the red today
>> The gains across sectoral indices were led by the Nifty Realty index, the Nifty Pharma index, the Nifty Auto index, and the Nifty IT index
3:38 PM
Stock Market Closing Bell LIVE: Bajaj Finance, M&M, NTPC, Power Grid lead the list of Sensex winners
>> While 23 stocks settled in the green on the Sensex on Friday, only 7 ended lower
>> The Sensex top gainers today were M&M, Bajaj Finance, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel, Sun Pharma, and TCS
>> the Sensex top losers today were Tata Motors, HDFC Bank, RIL, Tech M, ITC, Nestle India, HCL Tech
>> The Sensex top gainers today were M&M, Bajaj Finance, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel, Sun Pharma, and TCS
>> the Sensex top losers today were Tata Motors, HDFC Bank, RIL, Tech M, ITC, Nestle India, HCL Tech
3:36 PM
Stock Market Closing Bell LIVE Updates: Nifty holds 25,200 at close
>> Nifty50 index ends at 25,235.90, up 83.95 points or 0.33%
>> The NSE benchmark hit a record high of 25,268.35 during the day
>> The NSE benchmark hit a record high of 25,268.35 during the day
3:34 PM
Stock Market Closing Bell LIVE Updates: Sensex ends over 200 points higher
>> The BSE Sensex index ended at 82,365.77 level, up 231.16 points or 0.28%
>> The index hit a record high of 82,637.03 intraday in a range-bound session
>> The index hit a record high of 82,637.03 intraday in a range-bound session
3:29 PM
Amid growing concerns of risks, Sebi amends rules to regulate finfluencers
"No person regulated by the Board (Sebi) or the agent of such a person shall have any direct or indirect association, with another person who provides advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, unless the person is registered with or otherwise permitted by the Board to provide such advice or recommendation; or makes any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, unless the person has been permitted by the Board to make such a claim," the regulator said. READ MORE
3:23 PM
Paytm surges 13% on heavy volumes; stock zooms 101% from May low
At 02:46 PM, Paytm share price was trading 12 per cent higher at Rs 621.50 as compared to 0.31 per cent rise in the BSE Sensex. The average trading volume on the counter nearly doubled as roughly 32 million equity shares had changed hands on the NSE and BSE, together, till the time of writing of this report. In the past two trading days, the stock has surged 16 per cent on the BSE. READ MORE
3:14 PM
Stock Market LIVE Updates: Adani Ports acquires 80% stake in Astro Offshore
Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a definitive agreement to acquire 80 per cent stake in Astro, in an all-cash deal for $185 million, implying an EV of $235 million and EV / FY25E EBITDA at 4.4x.
The transaction is expected to be value accretive from the first year itself.
The transaction is expected to be value accretive from the first year itself.
2:57 PM
Stock Market LIVE Update: ECOS Mobility subscription status
>> ECOS (Mobility) IPO subscribed over 35x thus far on final day
>> Bids are being led by QIBs and NIIs
>> Bids are being led by QIBs and NIIs
2:43 PM
Stock Market LIVE Updates: Nifty Pharma hits fresh all-time high
Stock Market LIVE Updates: Nifty Pharma hits fresh all-time high of 23,275.50 levels.
2:41 PM
Stock Market LIVE Updates: RIL's 1:1 bonus shares explained; meaning, tax rules, and implications
Stock Market LIVE Updates: Reliance Industries Limited (RIL), India’s largest company by market capitalisation, made headlines during its 47th annual general meeting (AGM) held on August 29. Chairman and Managing Director Mukesh Ambani revealed that the company’s Board of Directors will meet on September 5 to discuss the issuance of bonus shares, potentially at a ratio of 1:1. This means that for every share currently held, shareholders could receive one additional share for free. READ MORE
Topics : MARKET WRAP MARKETS LIVE MARKETS TODAY S&P BSE Sensex NSE Nifty50 benchmark index MARKET LIVE share market Dalal Street
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First Published: Aug 30 2024 | 7:45 AM IST
