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Stock market update: Nifty surges above 24,600, Sensex rises 200 points

Global oil benchmark Brent crude fell by 0.79% to USD 77.05 per barrel. On Monday, the BSE benchmark slipped slightly by 12.16 points to 80,424.68, while the NSE Nifty edged up by 31.50 points to 24,572.65 amid volatile trading conditions.

Edited By: Nitin Kumar @Niitz1 New Delhi Published on: August 20, 2024 10:21 IST
stock market update
Image Source : FILE Bombay Stock Exchange Limited building.

Benchmark equity indices, Sensex and Nifty, saw gains in early trading on Tuesday, driven by positive global market trends and continued retail investor interest. The 30-share BSE Sensex climbed by 338.21 points to 80,762.89, while the NSE Nifty rose by 87.65 points to 24,660.30.

Among the Sensex companies, Tata Consultancy Services, IndusInd Bank, NTPC, Axis Bank, UltraTech Cement, Power Grid, Infosys, and Bajaj Finserv were notable gainers. Conversely, Bharti Airtel, Tata Steel, JSW Steel, and Tata Motors experienced declines.

Asian markets showed mixed results with Seoul and Tokyo trading higher, while Shanghai and Hong Kong declined. The US markets closed positively on Monday. Despite foreign institutional investors (FIIs) selling equities worth Rs 2,667.46 crore, domestic institutional investors (DIIs) purchased equities worth Rs 1,802.92 crore.

Market participants are closely watching global economic factors and the upcoming release of the July FOMC meeting minutes.

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