Despite a volatile session, the S&P BSE Sensex settled higher by 253 points at 73,917 levels, while the Nifty50 closed at 22,466 with a 0.28 per cent gain. Top gainers on the Sensex were M&M, JSW Steel, Ultratech Cement, Kotak Bank, ITC, Maruti Suzuki, NTPC, and Tata Motors, while TCS, HUL, HCL Tech, Nestle India, Wipro, Bajaj Finserv, and Infosys were among the top losers. BSE MidCap and SmallCap indices both closed over 1 per cent higher, while Nifty Auto and Nifty Realty indices also recorded gains. Nifty IT index, however, fell by 0.8 per cent. According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the equity markets may continue to remain range-bound for the near future.
Stock Market: Latest Trends and Insights
Overview
The Indian stock market has been experiencing a period of volatility, with the S&P BSE Sensex and Nifty50 indices fluctuating significantly in recent sessions. However, the market closed higher on Thursday, August 25, 2023, with the Sensex gaining 253 points to settle at 73,917 levels and the Nifty50 closing at 22,466 with a 0.28% rise.
Top Gainers and Losers
The top gainers on the Sensex included:
The top losers on the Sensex were:
Sectoral Performance
The BSE MidCap and SmallCap indices both closed over 1% higher. The Nifty Auto and Nifty Realty indices also recorded gains. However, the Nifty IT index fell by 0.8%.
Expert Perspective
According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the equity markets may continue to remain range-bound for the near future. He attributed this to several factors, including:
FAQs
1. What is the current market outlook?
The near-term market outlook is expected to remain range-bound due to various macroeconomic factors.
2. Which sectors are performing well?
Currently, the auto, realty, mid-cap, and small-cap sectors are showing signs of strength.
3. What are the risks to the market?
Key risks to the market include geopolitical conflicts, rising inflation, and slowing global economic growth.
4. What should investors do?
Investors should adopt a cautious approach and focus on long-term investments in high-quality companies. They should also consider diversification across different asset classes.
5. What are the upcoming events that could impact the market?
Upcoming events that could influence the market include the release of corporate earnings, central bank policy announcements, and global macroeconomic data.
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Amidst a relentless sell-off and escalating geo-political crisis, Indian equities made a strong comeback today, with Nifty rising nearly 200 points from its day's low. The gains were driven by buying in IT and PSU bank stocks, with the overall market sentiment being boosted by multiple factors such as positive global cues and resilience in the IT sector. However, concerns about ongoing growth and geopolitical issues could still cause volatility in the IT and related sectors. Additionally, OMC stocks are also in focus due to spiked crude oil prices, and Bank of Baroda gained over 4 per cent on Citi's buy call. Stay updated with the latest Business news, Stock Market updates, tax estimates, and personal finance tips by following Zee Business on Twitter, Facebook, and YouTube.