Markets Finish Solidly Green, Key Levels Hold, IT Leads the Way
The indices ended up on a positive note, with the Sensex and Nifty 50 gaining well, despite trading in ranges in the session. As a trader, it was the presence of resistance on the Nifty around the 25,000 level that stood out, and we are looking at this level as an area of dip-buying opportunities. Nonetheless, IT strength created a distinct positive momentum, and the biggest gainers in the group are TCS, Infosys, HCL, and Wipro.
Sensex and Nifty ended up 329 and 98 points respectively, at 81,636 and 24,968. Nifty Bank lost a little ground of 10 points, but the overall Midcap index strengthened by 72 points, an indication of strong underlying support in the wider markets. Stocks such as Hero MotoCorp and IndusInd Bank rose despite the fact they had now exited the Nifty 50, which was quite impressive.
Lets now dive into the crucial reasons why the market moved as it did.
Tops 5 Reasons: Market Gains on Global Cues, GST Reforms Support Sentiment
- Market Elevated on Fed Rate Cut Hopes: Positive cues from Europe and Asia, along with US Fed Chief Jerome Powell signaling a probable rate cut in September, boosted market sentiment. Domestic optimism was driven by proposed GST reforms and signs of bigger government reforms ahead.
- Top Gainers in Nifty 50:
- Infosys (+3.08%),
- TCS (+2.88%),
- HCL Tech (+2.64%), and
- Wipro (+2.32%) led the gains today.
- Worst Performers in Nifty 50:
- Adani Enterprises (-0.95%),
- Apollo Hospitals (-0.93%), and
- Nestle India (-0.87%) were among the top losers.
- Best and Worst Sectors: Nifty IT surged 2.37%, followed by moderate gains in Realty, Metal, and Consumer Durables. Media and Bank sectors recorded declines or negligible growth, with PSU Banks also slipping.
- Most Active Stocks by Volume: Vodafone Idea (116.6 crore shares), Ola Electric Mobility (26.2 crore shares), and YES Bank (25.5 crore shares) were the most actively traded on the NSE.
(With Inputs From Diferent Sources)
Also Read: Investor Numbers Rise Rapidly As Digital Trading Expands In India, Did You Join The Race?
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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