Stock Market News: Sensex Gains Over 200 Points, Nifty Reclaims 25,000 Mark Amid Strong Cues

Headline indices continued to gain for the fifth straight session on August 20. The Nifty reclaimed the 25,000 mark and closed higher by 69.9 points or 0.28 per cent at 25,050.55. The Sensex finished at 81,857.84, up by 213.45 points or 0.26 per cent.

IT and FMCG Stocks Lead Gainers

Shares of Infosys and Tata Consultancy Services finished the session higher by 2.61 per cent and 3.83 per cent respectively on the NSE. Other major gainers included FMCG stocks like Nestle India and Hindustan Unilever which closed higher by 2.55 per cent and 2.43 per cent respectively. On the other hand Bharat Electronics Ltd, Shriram Finance, Bajaj Finance finished the session lower by as much as 2.17 per cent.

Nifty IT And Nifty Realty Lead Gainers In Sectoral Pack

The Nifty IT and Nifty Realty indices rallied the most in trade on August 20, finishing the session 2.69 per cent and 1.06 per cent higher, respectively. The broader market indices also closed marginally higher by 0.46 per cent and 0.3 per cent. The Nifty Bank and the Nifty Pharma led the losers among the sectoral pack, closing lower by 0.3 per cent and 0.44 per cent, respectively.

Global Markets on August 20

The Nikkei 225 closed at 42,916, down by 630.29 points or 1.47 per cent, and the KOSPI finished at 3,130.09, down by 21.47 points or 0.69 per cent. On the other hand, the Shanghai Composite and the Hang Seng finished the session higher by 0.06 per cent and 1.03 per cent, respectively. On August 20, the Dow Jones Industrial Average closed at 44,922.2 points up by 10.45 points or 0.02 per cent. On the other hand the Nasdaq Composite and the S&P 500 finished the session lower by 1.46 per cent and 0.59 per cent respectively.

Primary Market Action On August 20

Mangal Electrical Industries IPO opened for subscription on August 20 and the Studio LSD IPO closed for bidding. Shares of Regaal Resources Ltd and Mahendra Realtors & Infrastructure Ltd also made their stock market debut on August 20.

Market Outlook

Investor sentiment continued to remain buoyed by rising optimism amid buzz around the Centre’s rationalisation of the Goods and Services Tax (GST) structure. Expectations of other GST reform announcements and renewed hopes regarding the strengthening of India-China geopolitical ties also acted as tailwinds for the relief rally.