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Stock Market Highlights, Aug 9: Sensex climbs 820 pts; Nifty hold 24,350; Ola hits 20% upper circuit

Stock Market Highlights on August 9: After making a flat debut on the bourses, shares of Ola Electric Mobility rallied northward, surging up to 20 per cent to hit the upper circuit on the BSE, and NSE

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Stock Market Highlights, Aug 9: Sensex climbs 819 pts; Nifty hold 24,350; Ola hits 20% upper circuit

Stock Market Highlights on Friday, August 9, 2024: Benchmark equity indices BSE Sensex and NSE Nifty ended the week's last trading session with gains, closing higher by 1 per cent each. Sensex climbed 819.69 points or 1.04 per cent to settle at 79,705.91, while Nifty50 ended 250.50 points or 1.04 per cent higher at 24,367.50.

The day ended in favor of the bulls, as 45 out of 50 listed stocks on the Nifty50 index settled higher, with gains led by Eicher Motors, Mahindra & Mahindra, Shriram Finance, Tata Motors, and Tech Mahindra, rising up to 5.68 per cent.

On the BSE, 27 out of 30 constituent stocks of the Sensex ended in positive territory, with gains led by Mahindra & Mahindra, Tata Motors, Tech Mahindra, JSW Steel, and State Bank of India, climbing up to 3.08 per cent.

The fear index, India VIX, ended 7.45 per cent lower at 15.37 points.

The broader indices also settled higher, with Nifty Next 50 and Nifty 100 being the top contributors, adding 1.24 per cent and 1.05 per cent, respectively. Midcap and Smallcap shares also ended in the green.

Sectoral indices too ended higher, with Banking, Auto, IT, Media, and OMC being the top gainers, leading up to 1.92 per cent.

Meanwhile, after making a flat debut on the bourses, shares of Ola Electric Mobility rallied northward, surging up to 20 per cent to hit the upper circuit of Rs 91.20 on the NSE and Rs 91.18 on the BSE.

4:02 PM

Tech View :: 'Nifty may extend pullback rally towards 24,651'

Nifty50
On the daily charts, we can observe that the Nifty has witnessed a fall from 25,100 – 23,900 and is now in the process of retracing that fall. It can rally towards 24,520 – 24,651 where the 50% and 61.82% Fibonacci retracement levels of the fall are placed. The immediate support on the downside is placed at 24,200 – 24,150 where the 40 day average is placed.
 
Bank Nifty
The Bank Nifty also witnessed a consolidation and managed to close in the green. PSU banks saw a sharp surge in trade today.  Overall, the bank Nifty can also move in tandem with the overall market and witness a pullback towards 50750 – 50800. Immediate support is placed at 50100 – 50000.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
3:49 PM

Comment :: 'Lack of fresh triggers, subdued earnings will cap rally'

Positive US jobless claims data eased the fears of recession and provided a favourable broader market reaction. The IT index outperformed in expectation of improved spending. Though the sentiment is gaining traction, a lack of fresh triggers and subdued earnings will be a deterrent for higher valuation. To safeguard the sentiment, investors are advised to shift their focus from growth stocks to value stocks

Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:47 PM

Rupee Update:: Rupee ends marginally higher

3:43 PM

Stock Alert :: Ola Electric fires up on debut, soars 20%

3:42 PM

Broader markets :: MidCap index outperforms, SmallCap trails

3:40 PM

Sectoral trends :: PSU Bank index ends nearly 2% up, Auto 1.7%

3:38 PM

Sensex Heatmap :: Only 3 stocks settle with losses

3:37 PM

Stock Market Closing Bell :: Nifty holds 24,350

3:36 PM

Stock Market Closing Bell :: Sensex jumps 820 pts

3:28 PM

IPO Calendar next week: 7 IPOs to open; FirstCry to debut. Check FULL LIST

Shares of Unicommerce eSolutions and Brainbees Solutions (Firstcry) are scheduled to make their debut on the BSE and NSE on Tuesday, August 13, 2024. The grey market premium (GMP) for both public issues suggests a positive listing for the company's shares. READ MORE
3:14 PM

Info Edge stock rallies 5% on steady Q1 show; matrimony biz grows 38% YoY

The company reported 9.3 per cent growth in its revenue from operations at Rs 638.9 crore on a standalone basis for June quarter of FY24, compared to Rs 584.3 crore in the corresponding quarter of the previous fiscal.  The company’s profit after tax (PAT) surged by 13.79 per cent year on year (Y-o-Y) at Rs 232 crore versus Rs 200 crore in Q1FY24.  READ MORE
3:03 PM

Trent hits record high on strong June quarter earnings; stock zooms 13%

At 02:04 PM, Trent was trading 11 per cent higher at Rs 6,254.85, as compared to 1.04 per cent rise in the BSE Sensex. The average trading volumes on the counter rose over three-fold, with a combined 4.7 million equity shares changed hands on the NSE and BSE. READ MORE
2:50 PM

ALERT :: Berger Paints announces Q1 results; proft slips 0.2% YoY to Rs 353.6 cr

2:47 PM

Grasim revenue up 9% at Rs 33,861 cr; net profit falls 23.4% to Rs 1,208 cr

Grasim Industries, the BSE-listed holding company of the Aditya Birla Group, reported consolidated revenue of Rs 33,861 crore in the June quarter, up by 9 per cent on a year-on-year (Y-o-Y) basis, driven mainly by strong performance from its diversified business portfolio. READ MORE
Textiles
 

2:42 PM

Amazon India sets up 4 hubs to deliver relief material in less than 24 hrs

E-commerce giant Amazon India on Friday said it has set up four hubs, including a temporary hub in West Bengal, to deliver urgent relief material in less than 24 hours, as part of its disaster management strategy. READ MORE
amazon

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First Published: Aug 09 2024 | 7:02 AM IST

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