Indian equity markets extended the winning run for fifth consecutive session on August 20, led by IT, FMCG, realty names, marking the longest gaining streak in last two months.
At close, the Sensex was up 213.45 points or 0.26 percent at 81,857.84, and the Nifty was up 69.90 points or 0.28 percent at 25,050.55.
The broader indices also extended their gains on the third straight session with BSE midcap and smallcap indices adding 0.3 percent each.
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Infosys, HUL, TCS, Nestle India, NTPC were among major gainers on the Nifty, while losers were Shriram Finance, Bajaj Finance, Bharat Electronics, Tata Motors, IndusInd Bank.
Among sectors, FMCG, IT, realty rose 1-2.6%, while media index fell 2%, pharma, private bank down 0.4% each.
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In stock-specific action, Aurobindo Pharma shares shed 4% on reports of Zentiva buyout talks, Paytm shares hit 52-week high as Motilal Oswal Mutual Fund raises holding, Phoenix Mills shares rose 4% on CCI nod for Island Star stake buy, Nazara Technologies shares shed 12% as Centre seeks to ban online money gaming.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 81,904.70 | 355.97 | +0.44% |
| Nifty 50 | 25,114.00 | 108.50 | +0.43% |
| Nifty Bank | 54,809.30 | 139.70 | +0.26% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Bharat Elec | 399.30 | 14.15 | +3.67% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 321.40 | -6.70 | -2.04% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 9883.60 | 90.65 | +0.93% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 56557.15 | -403.45 | -0.71% |
Dynamic Cables added 20% after bagging BIS nod, SRM Contractors shares rose 3% on bagging Rs 174 crore projects, Bharti Airtel shares ended higher after telco discontinued Rs 249 plan.
140 stocks touched their 52-week highs on the BSE, including Emami, Godfrey Phillips, Britannia Industries, Colgate Palmolive, Marico, Dabur India, Varun Beverages, Nestle, HUL, Godrej Consumer, Tata Consumer Products, Patanjali Foods, United Spirits, Radico Khaitan, United Breweries, among others. Click to View More
Outlook for August 21
Vinod Nair, Head of Research, Geojit Investments
The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the U.S. tariffs and sanctions on purchase of Russian crude, continue to pose challenges. Hence, greater visibility on U.S. trade policy and the path of earnings recovery will be critical.
Meanwhile, global sentiment is cautious ahead of the release of the FOMC minutes later today, with investor attention gradually shifting to the U.S. Fed Chair’s speech at Jackson Hole this weekend, which is expected to provide clearer guidance on future policy direction.
Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities
In the last two trading sessions, Nifty was unable to move past the 25000-25020 zone and close convincingly above the same. The level of 25,000 was also where the maximum call open interest for the Index was placed. However, steady up move on Wednesday ensured Nifty closed decisively above this key resistance zone. Nifty, now trades well above its key short-term moving averages of 20 & 50 DEMA on the daily chart.
The Relative Strength Index, a momentum indicator, has been on the rising mode since last three days, which reinforces the bullish sentiment. Additionally, the 25,000 Strike saw call writers (bears) exiting the positions and put writers (bulls) aggressively trying to build positions, leading to resistance becoming weaker and paving the way for the bulls to move higher.
Key Support: 24,850–24,800; breach of this zone could drag the index towards 24,650. Immediate Resistance: 25,150–25,200
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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