Markets Stabilize: Sensex Dips, Nifty Edges Up, Broader Indices Surges: August 19, 2024
Wider market indices have surpassed the performance of the benchmarks.
Market Update at 11:15 AM:
After an early upward trend, frontline indices have pared their gains and are now trading flat. As of 11:15 am, the BSE Sensex has edged up by 0.10 per cent to 80,510, while the Nifty 50 index has inched up by 0.18 per cent to 24,583.
Broader indices extended their gains. Considering sectoral developments, Nifty Media and Nifty Energy were among the Top Gainers, while Nifty Auto, Nifty Financial Services and Nifty Realty were notable laggards.
Within the Nifty 50, Hindalco, LTI Mindtree and BPCL were among the leading gainers, whereas M&M, Grasim Industries and SBI Life were among the market draggers.
Out of the total, 2,409 shares saw an increase, 973 shares experienced a decline, and 131 shares remained stable, the advance-decline ratio strongly remained inclined.
Market Update at 9:30 AM:
Boosted by positive global cues, Indian indices opened higher on August 19, with the Nifty surpassing 24,600. The Sensex rose by 215.33 points, or 0.27 per cent, to reach 80,652.17, while the Nifty gained 82.10 points, or 0.33 per cent, to stand at 24,623.30.
In terms of sectoral performance, Nifty Media and Nifty Oil & Gas were the only gainers, while Nifty IT, Nifty Auto, and Nifty Healthcare Index emerged as notable laggards.
ONGC, BPCL, Shriram Finance, NTPC and Hindalco were among major gainers on the Nifty, while losers were HUL, Infosys, Bajaj Auto, HDFC Life and Maruti Suzuki. With 1752 shares rising on the NSE and 459 shares declining, the advance-decline ratio remained in favor of declines.
Pre-Market Update at 8:30 AM:
US stocks ended higher on Friday, extending their biggest weekly percentage gains of the year as worries of an economic downturn eased and investors focused on the Jackson Hole Economic Symposium next week.
The Dow Jones Industrial Average rose 0.24 per cent to 40,659.76. The S&P 500 gained 0.20 per cent at 5,554.25 and the Nasdaq Composite added 0.21% at 17,631.72. The US dollar was struggling to make headway against its peers on Monday
Asian stocks were taking a breather on Monday after global equities enjoyed their best week in nine months on expectations the US economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts.The GIFT Nifty is trading higher, indicating a positive start for the day.
Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks.
On August 16, foreign institutional investors (FIIs) bought shares worth Rs 766 crore, while domestic institutional investors (DIIs) made a sizeable inflow of Rs 2,606 crore.