Stock Markets saw a huge bull run on 16th August after being closed on 15th August and continued dips in previous sessions. Investors have taken the positive cues from global markets. The fears about another recession have been dismissed by American inflation index and financial status. These factors helped have bull recovery in this session.
Going into the details, BSE Sensex has opened better than previous closing and never fell into red. During the session, it recovered over 1500 points. The valuation of companies increased by Rs.7 Lakh crores in this one session. In totality, Big indices of Stock Markets, BSE gained 1,330.96 points to close at 80,436.84 and Nifty50 gained 397.40 points to close at 24,541.15 mark.
In this session of Stock Markets, BSE Sensex started trading higher than the previous closing at 79,754.85 and then continued to trade between 79,306.69 – 80,518.21. On the other hand, Nifty Sensex started trading higher than the previous closing too, at 24,334.85 mark and it hit its highest for the day at 24,563.90. While Nifty50 hit the lowest at 24,204.50.
Indian Rupee traded at Rs.83.95 against USD on 16th August 2024. Wipro, Tech Mahindra, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services ended as Top Gainers in Sensex. Wipro, Tech Mahindra, Grasim Industries, Mahindra & Mahindra, Tata Motors ended as Top Gainers in Nifty50.
On the other hand in top indices of Stock Markets; Only Sun Pharmaceutical Industries stock ended as Top Loser in Sensex. While Divis Laboratories, SBI Life Insurance Company, Dr. Reddy’s Laboratories ended as Top Losers in Nifty50. IT stocks have contributed to the bull profits and experts state that Indian companies vulnerability will hit back in coming sessions.
