Indices continued positive momentum

30 Aug 2023 , 01:09 PM

The benchmark indices displayed resilience and sustained their early momentum, trading at their intraday peaks around noon on August 30. The market commenced the session on an optimistic note, propelled by favorable trends in global markets, thereby triggering robust buying activity across diverse sectors.

The Sensex exhibited a gain of 313.22 points, equivalent to a rise of 0.48%, positioning itself at 65,389.04. Simultaneously, the Nifty surged by 91.80 points or 0.47% to stand at 19,434.50 at 1:00 PM. Among the shares in focus, approximately 2132 stocks surged ahead, while 948 experienced declines, and 111 remained unchanged.

Nifty’s prominent gainers encompass Tata Steel, Cipla, Axis Bank, HCL Technologies, and Adani Enterprises, contributing to the upbeat sentiment. Conversely, Power Grid Corp, BPCL, Dr. Reddy’s Laboratories, SBI, and Coal India were among the losers in today’s trading.

In the Sensex roster, a significant portion of the stocks indicated positive trends, reflecting the widespread bullish sentiment. Notable gainers in this category included M&M, Tech Mahindra, Tata Steel, Axis Bank, Infosys, and Reliance Industries.

The prevailing market dynamics exhibited a comprehensive uptrend across all sectors, further strengthening the overall upward trajectory of the market. Notably, the smallcap and midcap segments maintained their shine, with the Nifty Midcap 100 and Nifty Smallcap 100 indices witnessing gains of around one percent each.