Stock Market Highlights, Aug 19: Mid, SmallCap indices outrun benchmarks; auto, private banks weigh
Stock Market Highlights on Monday, August 19, 2024: The BSE Sensex ended at 80,425, down 12 points or 0.02 per cent. Similarly, the NSE Nifty50 ended at 24,573, up 31.5 points or 0.13 per cent
 "share market live")
Stock Market Highlights today, Monday, August 19, 2024: After clocking a strong start, benchmarks -- BSE Sensex and NSE Nifty50 -- ended flat on Monday amid tepid trade across sectors.
The BSE Sensex ended at 80,425, down 12 points or 0.02 per cent. Similarly, the NSE Nifty50 ended at 24,573, up 31.5 points or 0.13 per cent.
The gains on the benchmarks were led by Hindalco, BPCL, Shriram Finance, Tata Steel, LTIMIndtree, Coal India, ONGC, and Dr Reddy's Labs. These stocks gained in the range of 1.8 per cent to 4 per cent.
On the downside, M&M, IndusInd Bank, Bajaj Auto, Axis Bank, SBI Life, and Tata Motors fell up to 2.5 per cent.
The broader markets, however, maintained their sheen with the BSE MidCap adding 0.53 per cent and the BSE SmallCap rising over 1.13 per cent.
Among sectors, the Nifty Auto index fell 0.9 per cent, followed by the Nifty Private Bank index (down 0.5 per cent). On the upside, the Nifty Metal, and PSU Bank indices edged 1.87 per cent and 1.2 per cent higher, respectively.
3:51 PM
Why did benchmarks underperform today?
The Indian market failed to catch up the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand. However, oil stocks gained momentum with the reduction in windfall tax on crude oil. The recent healthy US economic data diminished the likelihood of a US recession, while a slide in the dollar index supported the hypothesis of a rate cut in the September FOMC meeting.
Views by: Vinod Nair, head of research, Geojit Financial Services.
3:46 PM
Tech View :: 'The Nifty remained rangebound throughout the day, appearing to pause before the next rally'
The Nifty remained rangebound throughout the day, appearing to pause before the next rally. The index closed above the recent consolidation for the second consecutive day. The trend likely favors the bulls as long as it stays above 24,300. On the higher end, the Nifty might move higher, with resistances placed at 24,750-24,800.
Views by: Rupak De, senior technical analyst, LKP Securities
3:38 PM
Sector Update: Nifty Metal was the top gainer
3:36 PM
Broader market closes higher; Nifty SmallCap jumps 1.7%
3:35 PM
Index heatmap check: Tata Steel was the top gainer, followed by TCS
3:33 PM
Stock Market Closing Bell: Nifty settles marginally higher, up 32 points
3:32 PM
Stock Market Closing Bell: Sensex settles flat at 80,424.68 levels
3:25 PM
Knowledge Marine & Eng stock soars 8% on new order win; check details here
Shares of Knowledge Marine and Engineering Works (KMEW) surged up to 7.59 per cent at Rs 1258.95 per share on the BSE in intraday deals. This came after the company bagged a work order from New Mangalore Port Authority (NMPT) on Monday. READ MORE
3:15 PM
Strides Pharma falls over 4% after USFDA gives VAI tag to Chennai facility
Shares of pharmaceutical company Strides Pharma Science fell 4.13 per cent to Rs 1,257 during intra-day trading on Monday. The drop came after Strides Alathur, a wholly-owned subsidiary of Strides Pharma Science, received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA). READ MORE
3:00 PM
Aurobindo Pharma to commercialise China plant in 3rd quarter of FY25: CFO
Aurobindo Pharma expects its China facility to commence production in the next quarter with full-scale output anticipated only in the next fiscal year, according to Chief Financial Officer Santhanam Subramanian. READ MORE
Topics : MARKET WRAP MARKET LIVE share market IPOs Indian stock exchanges Indian stock markets MARKETS LIVE Nifty50 S&P BSE Sensex BSE stocks Buzzing stocks
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 19 2024 | 7:52 AM IST