Mumbai: The 30-share BSE Sensex climbed 128.81 points to 81,840.57 in early trade on August 28, 2024, i.e., Wednesday. The NSE Nifty went up 30.4 points to 25,048.15. However, after opening with gains, the stock market benchmark indices turned flat after beginning the trade on a positive note as profit-booking was recorded.
With both Sensex and Nifty facing profit-taking, the BSE benchmark traded 42.46 points lower at 81,682.57 while the Nifty went down at 24,996.15.
30 Sensex firms gainers: Reliance Industries (RIL), Sun Pharma, Tata Motors, Titan, Mahindra & Mahindra, Power Grid, and ITC. Laggards included, Maruti, Tata Steel, Tata Consultancy Services, JSW Steel, Bajaj Finserv, HCL Technologies.
World Markets
Asian markets: Shanghai, Tokyo, Seoul, and Hong Kong were trading lower. The US markets ended with marginal gains on Tuesday.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, opined that Indian stock market has entered a consolidation phase with low volatility. He also said that Foreign investors have started to buy marginally.
“The market has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term. Falling bond yields in the US has restrained FII selling and they have even turned marginal buyers. Going by previous trends, DIIs are likely to sell if FIIs continue to buy.
“This trend will keep the market within a range with a slight upward bias. This is a desirable and healthy trend, given the elevated valuations in the market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 1,503.76 crore on Tuesday. Domestic Institutional Investors (DIIs) offloaded equities worth Rs 604.08 crore.
The Sensex on August 26 settled at 81,711.76, while the Nifty ended almost flat at 25,017.75.
Stock Market today: The BSE Sensex climbed 128.81 points to 81,840.57 in early trade on August 28, 2024, i.e., Wednesday. The NSE Nifty went up 30.4 points to 25,048.15. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
