Top gainers, losers today: RIL, L&T, M&M, Jio Financial Services, among most active stocks
Stock market today: After falling for two-straight sessions, domestic benchmark indices ended marginally higher. On the backdrop of concerns about US interest rates, the IT stocks among the major sectoral indexes dragged down the indices. Reliance Industries share price fell over 1% as Mukesh Ambani delivered speech at 46th AGM.
Sensex closed 110.09 points, or 0.17 per cent, higher at 64,996.60 while the Nifty ended at 19,306.05, up 40.25 points, or 0.21 per cent.
Power Grid Corporation of India Ltd (up 2.77%), Larsen & Toubro Ltd (up 2.11%), Mahindra & Mahindra Ltd (up 1.83%), Cipla Ltd (up 1.95%), and Bharat Petroleum Corporation Ltd (up 1.53%)were among the top gainers of Nifty 50. Jio Financial Services Ltd (down 2.05%), Reliance Industries Ltd (down 1.27%), Adani Enterprises Ltd (down 0.87%), Hindalco Ltd (down 0.87%), Nestle India Ltd (down 0.82%) were among the laggards today.
According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, August has been weak for global equity markets. In the mother market of the US, S&P 500 is down by 4% so far in August. This weakness has impacted all other markets including the Indian market where Nifty is down by around 2% so far in August. The global economic scenario and the growth, inflation and interest rate trends in the US will continue to determine stock market trends globally.
(more to come)
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Updated: 28 Aug 2023, 03:41 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.