Stock Market Update: Sensex Gains 33 Points, Nifty Up 17 Points on Volatile Trading Day

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  • Stock Market Update: Sensex Gains 33 Points, Nifty Up 17 Points on Volatile Trading Day

The stock market ended the last trading day of the week on a flat note, with both Sensex and Nifty registering marginal gains despite a day of volatile trading. A surge in the auto sector helped sustain market momentum, with Sensex adding 33 points and Nifty climbing 17 points. Additionally, the rupee strengthened slightly against the dollar, closing with a gain of 4 paise.

Market Overview

On Friday, August 23, 2024, the stock market witnessed fluctuating movements throughout the day, reflecting investor uncertainty. However, by the end of the trading session, both key indices managed to post modest gains. The BSE Sensex closed at 81,086.21, marking an increase of 33.02 points or 0.04%. Meanwhile, the NSE Nifty closed at 24,829.45, rising by 17.95 points or 0.07%.

Despite the gains in Sensex and Nifty, the broader market showed mixed results. The BSE Midcap index dipped by 0.5%, while the Smallcap index remained flat. Among the sectors, the auto sector stood out, with a notable 1% rise. In contrast, sectors like metal, realty, media, PSU banks, and IT struggled, with their indices closing down by 0.5-2%.

Top Gainers and Losers

In terms of individual stocks, some notable gainers and losers emerged across the indices:

Top Gainers on Nifty:

  • Bajaj Auto
  • Coal India
  • Tata Motors
  • Sun Pharma
  • Bharti Airtel

Top Losers on Nifty:

  • Wipro
  • ONGC
  • Divi’s Labs
  • Asian Paints
  • Nestle India

Top Gainers on Sensex:

  • Tata Motors
  • Sun Pharmaceutical
  • Bharti Airtel
  • Bajaj Finserv
  • ICICI Bank
  • Mahindra & Mahindra
  • JSW Steel

Top Losers on Sensex:

  • Tech Mahindra
  • HCL Technologies
  • Asian Paints
  • Titan
  • Infosys
  • State Bank of India
  • Tata Consultancy Services
  • HDFC Bank

Rupee’s Performance

The rupee also showed some resilience against the US dollar. In the interbank foreign exchange market, the rupee opened on a weaker note at 83.93 but managed to recover, closing with a gain of 4 paise at 83.85 against the dollar. This slight recovery reflects positive sentiment in the domestic currency market amid a day of volatile trading.

While the stock market closed with modest gains, the day’s trading activity highlighted the ongoing volatility in the financial markets. The auto sector provided some much-needed support, but weakness in other sectors like IT, metals, and PSU banks prevented a stronger rally. Investors should continue to monitor market trends closely as fluctuations are expected to persist in the coming weeks.

As always, staying informed and making well-researched investment decisions will be crucial for navigating the current market environment.

 

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