The Indian equity markets made a strong recovery on August 9, erasing the losses from the previous session, as buying activity intensified across all sectors. The benchmark indices, Sensex and Nifty, both recorded a 1.04% gain by the close of trading.
The BSE Sensex surged by 819.69 points to settle at 79,705.91, while the NSE Nifty rose by 250.50 points, ending the day at 24,367.50. The market opened on a positive note, buoyed by encouraging global cues, and maintained its upward momentum throughout the day. The Nifty crossed the 24,400 mark, and Sensex went closer to 80,000-mark.
Despite this recovery, the weekly performance of both indices was slightly negative, with the Sensex and Nifty each shedding 1.5%.
Among the top performers on the Nifty were Eicher Motors, ONGC, Tech Mahindra, Tata Motors, and Shriram Finance. In contrast, BPCL, HDFC Life, Kotak Mahindra Bank, Divi’s Laboratories, and Sun Pharma were the top losers.
Sectorally, all indices traded in the green, with the auto, capital goods, IT, power, realty, PSU bank, and media sectors leading the charge with gains of 1-2%. The broader market indices mirrored the main indices’ performance, with the BSE Midcap index rising by 1% and the Smallcap index by 0.8%.
Nearly 250 stocks touched 52-week high on the BSE including Oil India, Sun TV Network, Lupin, Alkem Lab, Glenmark Pharma, Ajanta Pharma, Colgate Palmolive, Aurobindo Pharma, Coromandel International, among others.
