Stock Market Highlights: Sensex, Nifty end flat, broader indices mixed ahead of Powell's speech
Stock Market Highlights on Friday, August 23: At closing bell, the BSE Sensex was at 81,086.21, up by 33.02 points. Nifty 50 was at 24,823.15, up marginally by 11.65 points
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ILLUSTRATION: AJAY MOHANTY
Stock Market Highlights, Friday, August 23: Indian benchmark indices Sensex and Nifty ended Friday's rangebound trading session slightly higher as investors awaited clues about possible interest rate cuts by the Federal Reserve in this year, from a scheduled speech by US Federal Reserve Jerome Powell at the ongoing Jackson Hole Economic Symposium in the US.
At closing bell, the BSE Sensex was at 81,086.21, up by 33.02 points, or 0.04 per cent, while the broader Nifty 50 was at 24,823.15, up marginally by 11.65 points, or 0.05 per cent.
Tata Motors, Sun Pharma, Bharti Airtel, Bajaj Finserv, and ICICI bank were the top gainers on the BSE Sensex, while Tech Mahindra, HCLTech, Asian Paints, Titan, and Infosys, were the top drags. 13 of the 30 stocks on the BSE Sensex ended in the red.
Similarly, on the broader Nifty50, Bajaj Auto, Coal India, Bharti Airtel, Tata Motors, and Sun Pharma were the top gainers, while LTIMindtree, Wipro, ONGC, Asian Paints, and Titan were the top drags.
Meanwhile, Auto was the only sectoral gainer, closing higher by 1.12 per cent.
In contrast, the Realty index shed 2.24 per cent, followed by the Media and and IT indices, that closed lower by around 1 per cent.
3:58 PM
Tech View: 'Nifty is also trading close to 78.6% retracement mark 24830 which shall restrict further upside'
Nifty opened on a flat note and consolidated during the day to close with gains of ~12 points. On the daily charts, we can observe that the Nifty has closed positive for the seventh consecutive trading session. The upmove appears a bit overstretched as it has been rising higher without any meaningful pullback towards the hourly moving averages. The hourly momentum indicator has a negative crossover along with a negative divergence. Thus, can be an intraday dip and hence caution on longs is advised. The Nifty is also trading close to the 78.6 per cent retracement mark 24830 which shall restrict further upside. Thus, the overall trend remains sideways, and the range of consolidation is 24200 – 25000.
Views by: Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas
Views by: Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas
3:50 PM
Views by: Vinod Nair, head of research, Geojit Financial Services
'Investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path'
Ahead of the FED chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario. Meanwhile, investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path. Most of the sectoral indices remained in red; in contrast, the auto sector excelled as the industry is preparing for festive season demand with multiple launches.
Views by: Vinod Nair, head of research, Geojit Financial Services
3:39 PM
Sector-Check: All but Auto index closed in red zone
Nifty Auto index was the only gainer, up over 1 per cent.
3:37 PM
Broader markets settle in negative territory
Nifty SmallCap closed 0.11 per cent lower while MidCap slipped 0.49 per cent.
3:36 PM
Index heatmap check
Tata Motors was the top gainer while Tech Mahindra was the top loser on BSE.
3:34 PM
Stock Market Closing Bell: Nifty50 settles with marginal gains
Nifty50 closes with a gain of 22.25 points or 0.09 per cent at 24,833.75 levels.
3:33 PM
Stock Market Closing Bell: Sensex closes marginally higher
Sensex sttles 33.02 points or 0.04 per cent higher at 81,086.21 levels.
3:27 PM
Stock Market LIVE Updates: Tata Tech investor Alpha TC sells entire stake in co. for Rs 1,218.5 crore
Stock Market LIVE Updates: Tata Technologies investor Alpha TC Holdings today offloaded its entire stake in the company for a total transaction value of Rs 1,218.5 crore.
The investor sold around 75 lakh shares in the company at an average price of Rs 1,019. crore in a block deal on Friday according to reports.
3:15 PM
Stock Market LIVE Updates: DCM Shriram COO Girish Yajnik resigns due to personal reasons
Stock Market LIVE Updates: DCM Shriram Industries today announced that the company's chief operating officer Girish Yajnik has resigned from the services of the company, citing personal reasons.
The company, in an exchange filing, said, "We hereby inform that Mr. Girish Yajnik, Chief Operating Officer (Business Group Chemicals), a Senior Management Personnel of the company, has resigned from the services of the company for personal reasons and his resignation has been accepted effective from the close of office hours on August 23,2024".
3:03 PM
Stock Market LIVE Updates: Sensex, Nifty in the red amid cautious market mood
Stock Market LIVE Updates: At 3 PM, the BSE Sensex was trading at 80,992.94, down by 60.25 points, or 0.07 per cent, while the broader Nifty 50 was at 24,806, down 5.30 points, or 0.03 per cent.
Topics : MARKET LIVE MARKET WRAP MARKETS TODAY S&P BSE Sensex Nifty50 BSE NSE Indian stock markets stock markets share market Buzzing stocks
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First Published: Aug 23 2024 | 7:59 AM IST