Nifty, Sensex rise despite Asian markets decline

August 23, 2024 10:06

Indian markets continued their upward movement on Friday, with both major indices opening with marginal gains. The Nifty 50 index began the day with an increase of 0.14 per cent, or 33.60 points, reaching 24,845.10 points.

Similarly, the BSE Sensex opened with a rise of 0.14 per cent, or 112.46 points, at 81,165.65 points. "We expect a mildly positive day for the Indian markets, with positions being reduced in the second half. as Powell's speech will be at night for Indian markets. FIIs turned net buyers on Thursday, only the 3rd day in August that this happened. Markets are waiting for the Jackson Hole speech event to pass before resuming their march upwards," said Ajay Bagga, Banking and Market Expert.

In the Nifty 50 list on the NSE, 32 stocks saw gains at the opening, while 10 stocks declined, and 8 remained unchanged. However, sectoral indices on the NSE displayed a mixed performance.

The Nifty Bank, Nifty Financial Services, Nifty IT, and Nifty Private Bank indices faced pressure, resulting in declines during the opening session. On the other hand, sectors such as Nifty Auto, Nifty FMCG, Nifty Media, and Nifty Metal registered gains.

Among the top gainers at the opening on the NSE were Bajaj Auto, Tata Motors, Apollo Hospitals, Reliance, and Hindalco. Conversely, the top losers included LTI Mindtree, Infosys, Asian Paints, IndusInd Bank, and NTPC at the time of filing this report.

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