Best Day For Indian Stock Market: Sensex Gains 378 Points, Nifty 50 Up 126 Point

Last updated on August 29th, 2024 at 05:46 pm

Indian Stock Market Shines: Sensex Gains 378 Points, Nifty 50 Up 126 Point — Image by Gerd Altmann from Pixabay

On Tuesday, August 20, the Indian stock market had a strong performance. Both the Nifty 50 and Sensex rose by about 0.5%, helped by mostly positive news from global markets.

Markets in Asia and Europe also went up, driven by hopes that US Fed Chair Jerome Powell will give clear hints about a possible rate cut in September at the upcoming Jackson Hole Symposium.

Experts believe the market is already expecting a 0.25% rate cut in September, but some think it might be as high as 0.50%.

Summary of the stock market performance:

Sensex: Up by 378 points, or 0.47%, closing at 80,802.86.
Nifty 50: Up by 126 points, or 0.51%, ending at 24,698.85.

The BSE Midcap index increased by 1% while the Smallcap index rose by 0.5%. The total market value of companies listed on the BSE went up to nearly ₹456.7 lakh crore from about ₹454.4 lakh crore in the previous session, adding over ₹2 lakh crore in value for investors in just one day.

Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.

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