NEWS AFFAIRS 7 : WHERE EVERY STORY HAS IT'S AFFAIR!
Strong Gains Across Indices Despite Late-Day Selling; Nifty Eyes Further Upside with Key Support Levels
After a quiet day before, Indian stock markets did well on August 20. The Sensex, a major index, went up by 378 points to 80,803, and the Nifty index rose by 126 points to 24,699.
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The market started strong because of positive news from around the world, with Nifty opening around 24,650 and gaining more as the day went on. However, some selling in the last hour reduced the day’s gains.
Indian Stock Market Update
Top performers in Nifty included SBI Life Insurance, HDFC Life, Bajaj Finserv, Shriram Finance, and IndusInd Bank. On the other hand, ONGC, Bharti Airtel, Adani Enterprises, Cipla, and Apollo Hospitals were among the biggest losers.
Most sectors did well except for FMCG (Fast-Moving Consumer Goods). Banks, healthcare, IT, metals, and power sectors increased by 0.5-1 percent.
The midcap index went up by 1 percent and the smallcap index increased by 0.5 percent.
Over 280 stocks reached their highest price in a year on the BSE, including ICICI Securities, Petronet LNG, PB Fintech, Glenmark Pharma, Persistent Systems, Colgate Palmolive, Voltas, Tech Mahindra, Ashok Leyland, Aurobindo Pharma, TCS, Sun Pharma, and Shriram Finance, among others.
Indian Stock Market Update , Simplified version of Aditya Gaggar’s commentary:
After starting strong in the morning, the index stayed within a range for the rest of the day and ended up at 24,698.85, gaining 126.20 points. Most sectors went up, except for FMCG and Media. Banking indices, including BankNifty and PSU Banks, were the top performers, followed by IT.
In the broader market, midcap stocks did better than smallcap stocks, which moved similarly to the main index.
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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