August 21, 2024 - The Indian stock market witnessed a modest rise, with both the Nifty 50 and Sensex closing in positive territory, driven by strong performances in the pharmaceutical and consumer sectors.
The Nifty 50 index rose by 0.29%, ending the day at 24,698.85. The benchmark index fluctuated throughout the session, reaching a high of 24,787.95 and dipping to a low of 24,654.50 before stabilizing. Meanwhile, the Sensex closed at 80,802.86, up by 0.13%, reflecting an increase of 102.44 points from the previous close.
Market Movers:
Top Gainers: Divis Laboratories led the gains in the Nifty 50, climbing by 3.76%, followed by Titan Company (+2.46%), SBI Life Insurance (+2.23%), Cipla (+2.03%), and HDFC Life Insurance (+1.96%).
Top Losers: On the flip side, Tech Mahindra dropped by 1.47%, making it the biggest loser of the day. Tata Steel (-1.31%), Ultratech Cement (-1.31%), Power Grid Corporation of India (-1.13%), and HDFC Bank (-0.73%) also ended the session in the red.
The Nifty Midcap 50 index outperformed the broader market, with a gain of 0.3%, while the Nifty Small Cap 100 surged by 1.21%, closing at 18,839.95. This performance highlights the continued interest in mid and small-cap stocks, which have been attracting significant investor attention.
Among individual stocks, Titan Company and Divis Laboratories were the standout performers, with Titan also featuring among the top gainers in the Sensex, up by 2.45%. Other notable gainers in the Sensex included Asian Paints (+1.60%) and Hindustan Unilever (+1.43%).
Overall, the market sentiment remained cautiously optimistic, with selective buying in key sectors such as pharmaceuticals, consumer goods, and insurance, while technology and metal stocks faced selling pressure
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