Nifty Gains 34 Pts & Sensex Ends at 81,785 on August 28, 2024

Nifty ? ? ? ??25,052 [+34.60] 0.14

Sensex ? ?81,785 [+73.80] 0.09

Reasons for Market Up?

• Gains in IT and Pharma stocks, driven by companies like LTIMindtree and Wipro, supported the market. This sectoral strength helped offset losses in other areas, leading to a positive close.

• Lower US bond yields provided global markets, including India, with a positive cue. This reduced pressure on stocks and contributed to today's gains.

• Continued FII inflows kept market sentiment optimistic. Expectations of stable economic conditions and upcoming GDP data further supported the indices.

Top 3 Stocks That Gained The Most?

Nifty?

LTIM:? +6.31

Wipro:? +3.71

Divi's Lab:? +2.71

Sensex

Wipro:? +3.85

Bharti Airtel:? +2.20

IndusInd Bank:? +1.95

Sectors of the Day?

Nifty IT:? +1.64

Nifty Healthcare:? +1.20

Nifty Pharma:? +1.14

• Wipro shares rose today following the announcement of its AI partnership with Dell, which boosted investor confidence in the company's growth potential in the technology sector.

• Bharti Airtel shares rose today as its stake in Indus Towers increased to over 50%, making Indus Towers a subsidiary, which positively impacted investor sentiment.

IPO Performance

• Travels & Rentals Limited IPO will be open for bidding from August 29, 2024, to September 2, 2024, with shares priced at ?40 per share on BSE SME.?

• Resourceful Automobile Limited IPO shares are expected to be listed on the NSE SME platform around August 29, 2024.?

Key Events to Track For 29th August 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.?

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.?

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.?

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.?

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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