Share Market Closing Report 21 August 2024

_{Published on: 21 Aug, 2024 17:05}

1. Nifty 50 gained 71.35 points, closing at 24,770.20.
2. Sensex rose by 102.44 points, ending at 80,905.30.
3. Nifty 500 gained 88.30 points, closing at 23,368.65.
4. BSE SmallCap index surged 0.87%, ending at 55,336.42.
5. Nifty IT and Nifty Bank indices showed steady gains, driven by demand in tech and banking stocks.

Indian stock markets continued their positive momentum on 21st August 2024, closing with gains across major indices. Buying interest persisted in the banking and IT sectors, supporting overall market sentiment.

The Nifty 50 index rose by 71.35 points, or 0.29%, closing at 24,770.20. The index traded between a high of 24,787.95 and a low of 24,654.50. Positive buying in banking and IT stocks, along with some support from consumer durables, helped Nifty close in the green, marking a consistent upward trend over the past few sessions.

 

The BSE Sensex closed marginally higher by 102.44 points, or 0.13%, at 80,905.30. The index remained relatively range-bound, with the day's high at 80,952.83 and a low at 80,626.38. Banking heavyweights and IT stocks continued to support the index, although the gains were more moderate compared to previous sessions.

The Nifty 500 index gained 88.30 points, or 0.38%, closing at 23,368.65. The broader market sentiment was positive, with contributions from various sectors helping the index perform well, particularly in mid-cap and small-cap segments.

The BSE Midcap index saw decent gains of 0.41%, closing at 37,846.75. Midcap stocks in the industrial and consumer sectors led the gains, and investor sentiment remained positive in this segment. Midcaps continued to attract attention for their strong earnings outlook and growth potential.

The BSE SmallCap index outperformed other indices, gaining 0.87% and closing at 55,336.42. Small-cap stocks witnessed a strong rally, led by pharmaceuticals and consumer goods. Investors showed significant interest in small-cap companies, pushing the index higher for another consecutive day.

The Nifty IT index continued its upward trajectory, benefiting from consistent demand in technology stocks. Major IT firms like Infosys and Wipro contributed to the index’s gains as global demand for tech services remained strong.

The Nifty Bank index also closed positively, supported by buying in leading private and public sector banks. Banks like ICICI Bank and Axis Bank led the gains, reflecting confidence in the banking sector's earnings outlook and improving credit growth.