Share Market Closing Report 20 August 2024

_{Published on: 20 Aug, 2024 17:51}

• Nifty 50 gained 126.20 points, closing at 24,698.85.
• Sensex jumped 378.18 points, ending the day at 80,802.86.
• BSE Midcap index rose by 0.83%, closing at 37,758.10.
• BSE SmallCap index climbed 0.52%, ending at 54,856.49.
• Nifty IT and Nifty Bank indices surged, driven by strong demand in IT and banking stocks.

Indian stock markets closed with strong gains today, as all major indices showed positive momentum. The broader markets also remained upbeat, with significant buying seen in banking and IT sectors, which led to a positive close.

The Nifty 50 index gained 126.20 points, or 0.51%, closing at 24,698.85. The index touched an intraday high of 24,734.30 and a low of 24,607.20. Strong buying in banking and IT stocks helped Nifty close near its highest point of the day.

The BSE Sensex also saw significant gains, closing at 80,802.86, up by 378.18 points, or 0.47%. The Sensex traded between a high of 80,942.96 and a low of 80,517.95 during the session. The banking and automobile sectors played a key role in driving the index upward, resulting in a strong close.

The BSE Midcap index gained 0.83%, closing at 37,758.10. Strong buying was seen in midcap stocks, especially in the industrials and real estate sectors. Investors continued to seek opportunities in midcap companies, leading to solid gains in this space.

The BSE SmallCap index also closed with gains, rising 0.52% to 54,856.49. Smallcap stocks saw sustained buying interest, with sectors like pharmaceuticals and consumer durables leading the rally. Investors recognized value in smallcap stocks, pushing the index higher.

Sectoral Indices

The Nifty IT index performed well again today, with continued investor interest in the IT sector. Major companies like Infosys and TCS drove the index higher, leading to a strong close.

The Nifty Bank index also posted gains, as banking stocks saw significant buying interest. HDFC Bank and Kotak Mahindra Bank were key contributors to the index’s rise, reflecting the ongoing strength in the banking sector.