STOCK MARKET LIVE: Nifty, Sensex, BSE, NSE, Inflation, Jackson Hole, Crude Oil

CLOSING BELL

Stock Market Highlights: Equity gains evaporated late in the session as investors adjusted their positions amid the F&O expiration for the August derivatives series. The S&P BSE Sensex fell 709 points from the day’s high and closed at 58,775, down 311 points or 0.53%.

The Nifty50 index also closed 83 points, or 0.47%, down at 17,522. It had hit a high of 17,727 during the day.

25 of Sensex’s 30 constituents and 34 of Nifty’s 50 constituents ended in negative territory, including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, NTPC, TCS, Axis Bank, PowerGrid and HDFC. The winners, meanwhile, were Shree Cement, Divis Labs, Hindalco, Eicher Motors, HDFC Life, Grasim and SBI Life. Among the heavyweights, Maruti Suzuki, SBI, Titan, Wipro and Dr Reddy’s Labs posted modest gains.

Broader markets, however, maintained bullish momentum, with the BSE MidCap and SmallCap indices coming in 0.2% higher. Among the sectors, all but the Nifty PSU Bank (up 2.74%) and Realty (up 1.47%) indices closed in the negative zone.

The Nifty PSU Bank Index has more potential

With market momentum picking up and the economic outlook improving, public sector bank stocks have made a smart comeback on the stock exchanges. The PSU Bank index has jumped 16% in the past three months, compared to a 9% rise in the benchmark Nifty50 index. Looking ahead, analysts see more legs in this rally. READ MORE

As of 3:30 p.m., the three-day issue of DreamFolks Services was subscribed almost 5 times, with the retail portion recording a subscription of 17 times. The NII and QIB quotas, meanwhile, were subscribed 5.5 times and 0.57 times respectively.

The stock’s gray market premium jumped nearly 15% after strong demand for the show. READ MORE

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