The domestic stock market closed strongly on Tuesday amid turmoil in the global market. The benchmark index Sensex of the Bombay Stock Exchange (BSE) closed at 80,802.86 at the end of trading with a sharp gain of 378.18 points. Similarly, the National Stock Exchange (Nifty) also closed at 24698.85 with a gain of 126.20 points. Nifty Bank also saw a great rise of 434.80 points and closed at 50,803.15. HDFC Bank, Reliance Industries, ICICI Bank, Axis Bank and Bajaj Finance were the biggest contributors to Nifty 50 on August 20.
These stocks shined
The top gainers on the Nifty were SBI Life Insurance, HDFC Life, Bajaj Finserv, Shriram Finance and IndusInd Bank, while ONGC, Bharti Airtel, Adani Enterprises, Cipla and Apollo Hospitals declined. Barring FMCG, all other sectoral indices closed in the green, with banks, healthcare, IT, metals, power rising by 0.5-1 per cent. Similarly, the BSE midcap index rose 1 per cent, while the smallcap index gained 0.5 per cent.
Investors earned more than ₹ 2 lakh crore
The total market capitalisation of companies listed on the Bombay Stock Exchange rose to around ₹ 456.7 lakh crore from around ₹ 454.4 lakh crore in the previous session. Investors earned more than ₹ 2 lakh crore in a single session. Talking about intraday trade on BSE, about 300 stocks including TCS, Tech Mahindra, Sun Pharma, Ashok Leyland, HDFC Asset Management Company, ICICI Lombard General Insurance Company, Persistent Systems, Shriram Finance and Trent touched new 52-week highs.
Focus on the speech of the Chairman of the Federal Reserve
The focus of the market including investors is on the speech of Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Policy Symposium, which can provide important information about future interest rate policies. Its impact on the market will be seen.
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