Indian Stock Market Recap: Sensex and Nifty Experience
Market Overview
The Indian stock market experienced a marginal increase on August 14, 2024, with the BSE Sensex closing at 79,105.88, up by 149.85 points or 0.19%. Similarly, the NSE Nifty 50 ended the day at 24,143.75, with a gain of 4.75 points or 0.02%. This slight upsurge marked a departure from the previous two days’ losses, driven primarily by the strong performance of IT stocks.
Sector-Wise Performance
The IT sector was the standout performer, with major gainers including TCS (2.25%), HCL Tech (1.90%), Infosys (1.37%), and Tech Mahindra (1.23%). This surge was likely influenced by the positive trend in the US markets. In contrast, the major losers of the day were Divi’s Lab (-4.11%), Hero Motocorp (-3.40%), Coal India (-3.33%), ONGC (-2.44%), and Ultratech Cement (-2.43%).
Market Breadth and Trends
A total of 1,454 stocks advanced on the BSE, while 2,440 stocks declined, and 105 stocks remained unchanged. The total number of stocks traded was 3,999. Notably, 170 stocks reached a 52-week high, whereas 63 stocks hit a 52-week low. Additionally, 257 stocks traded in the upper circuit, and 299 stocks hit the lower circuit.
Key Takeaways
- The Indian stock market experienced a marginal increase, driven primarily by the strong performance of IT stocks.
- The BSE Sensex and NSE Nifty 50 closed higher, snapping a two-day losing streak.
- The IT sector was the standout performer, with major gainers including TCS, HCL Tech, Infosys, and Tech Mahindra.
- The market breadth was mixed, with more stocks declining than advancing.
Conclusion
The Indian stock market’s slight upsurge on August 14, 2024, was a welcome respite from the previous days’ losses. The strong performance of IT stocks, driven by the positive trend in the US markets, was the primary driver of this increase. However, the market breadth was mixed, indicating caution. Investors will be watching closely to see if this uptick can be sustained in the coming days.
