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Volume IconMarket Wrap, August 28: Here's all that happened in the markets today

On a weekly basis, Sensex gained 2.6 per cent while Nifty added 2.4 per cent

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Experts say aggressive stimulus measures announced by global central banks helped investors look beyond the worst economic outlook in more than 40 years

The bulls continued to dominate markets on Friday, thanks to a healthy buying in financial counters. The S&P BSE Sensex gained for the sixth consecutive session to settle at 39,467 levels, up 354 points, or 0.9 per cent. 

NSE's Nifty ended at 11,648, up 88 points or 0.76 per cent. Volatility index, India VIX, continued to decline and ended at 18.24 levels, down nearly 3.5 per cent. 

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Among individual stocks, IndusInd Bank (up over 8 per cent) ended as the top gainer on the Sensex, followed by Axis Bank, ICICI Bank, and Sun Pharma.  On the other hand, Power Grid (down over 1 per cent) ended as the biggest loser on the index. 

On a weekly basis, Sensex gained 2.6 per cent while Nifty added 2.4 per cent. 

In the broader market, the S&P BSE MidCap index gained 0.55 per cent to 15,238 levels while the S&P BSE SmallCap index ended at 14,990.55, down 0.23 per cent. 

Among sectoral indices on the NSE, Nifty Bank rallied nearly 1,000 points or over 4 per cent to settle at 24,588.95 levels. All the 12 constituents on the index ended in the green. 
 
Buzzing stocks

Shares of NMDC ended around 12 per cent higher at Rs 107.50 apiece on the BSE, a day after the company reported its financial results for the quarter ended June 2020 (Q1FY21). 

Telecom stocks advanced at the bourses. The telecom companies are awaiting the Supreme Court's judgement in the adjusted gross revenue (AGR) case. After several rounds of hearings, the apex court had, on Monday, reserved its judgment in the case. On the last day of hearing, the court had observed that if telecom companies are unwilling to pay their dues, it would direct the Union government to cancel their spectrum allocation and licence. 
Topics :MARKET WRAP

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First Published: Aug 28 2020 | 5:12 PM IST

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