After a volatile day, buyers ultimately prevailed; On Wednesday, Nifty closed 26 points higher at 24,078, while Sensex closed 130 points higher at 77,185. During the intraday session, Nifty touched a high of 24,220 and a low of 24,010. Despite market fluctuations, Nifty managed to maintain the important support level of 24,000. On Wednesday, Nifty opened 33 points higher at 24,085, while Sensex opened 137 points higher at 77,192. In early trade, Nifty jumped more than 150 points and crossed the level of 24,200. On Tuesday – the weekly closing day – the Nifty fell 158 points to close at 24,052.
How was the performance of different sectors today? Nifty Chemicals +1%
Nifty PSU Bank +0.94%
Nifty IT -0.56%
Nifty Metal -0.89%
nifty 50 gainers
Eicher Motors +3.13%
UltraTech Cement +2.5%
HDFC Life +2.4%
Shriram Finance +2.09%
nifty 50 losers
Power Grid -1.90%
JSW Steel -1.82%
L&T -1.71%
Hindalco -1.64%
shares in news
Ather Energy +7.5% (to launch its cheapest electric scooter on August 29)
Kusumgar +5% (IPO Listing)
KEC International +3.58% (news of receiving orders)
Dalmia Bharat +3.33% (to invest ₹3,100 crore in Andhra Pradesh) (Results Shares)
FedBank Financial Services +6.5%
L&T Tech Services +6%
Growth +6%
Tata Elxsi -4.9%
Crude oil continues to rise
President Trump has withdrawn his decision to impose tax on the Strait of Hormuz. However, crude oil is trading at $86 with no signs of a decline. Meanwhile, the rupee weakened by 58 paise to close at 96.20 yesterday due to rise in crude oil prices. Weakening of rupee is a big negative thing.
Important points for the market
Trump withdrew the decision to impose tax on Hormuz
Crude oil continues to rise; Price at $86
Rupee weakened by 58 paise and closed at 96.20 against the dollar.
There is a possibility of weakening of market sentiment due to weakness of rupee.
FIIs sold shares worth ₹740 crore yesterday, while DIIs bought shares worth ₹2,927 crore.
IBM shares fell 25% yesterday; Indian IT stocks likely to be impacted
