Sensex Gains 349 Pts, Nifty Rises 100 Pts on August 29, 2024

Nifty ? ? ? ??25,151 [+99.60] 0.40

Sensex ? ?82,134 [+349.05] 0.43

Reasons for Market Up?

• Strong performances by key stocks like Tata Motors, ITC, and Bajaj Finance lifted the benchmarks, driving both the Sensex and Nifty 50 to fresh record highs.

• Positive momentum from major European markets, coupled with a resilient domestic economic outlook and strong retail investor participation, bolstered the bullish sentiment despite mixed cues from Asian peers.

• The favorable outlook on India's macroeconomic conditions and sustained earnings growth in key sectors laid a solid foundation for market gains, leading the Sensex and Nifty 50 to close at record highs.

Top 3 Stocks That Gained The Most?

Nifty?

Tata Motors:? +3.57

Bajaj Finserv:? +2.61

Britannia:? +2.45

Sensex

Tata Motors: +3.57

Bajaj Finserv:? +2.57

HCL Tech:? +1.72

Sectors of the Day?

Nifty Oil & Gas:? +0.94

Nifty FMCG:? +0.72

Nifty Auto:? +0.54

• Bajaj Finserv shares rose today as Bajaj Housing Finance announced plans for a ?7,000 crore IPO, including ?4,000 crore in fresh issues and ?3,000 crore via OFS.?

• The anticipation of this major IPO has boosted investor sentiment, particularly due to the special quota for Bajaj Finance and Finserv shareholders.

IPO Performance

• Boss Packaging Solutions Limited IPO will be open for bidding from August 30, 2024, to September 3, 2024, with shares priced at ?66 per share on NSE SME.?

• Archit Nuwood Industries Limited IPO will be open for bidding from August 30, 2024, to September 3, 2024, with shares priced at ?257 to ?270 per share on BSE SME.?

• Baazar Style Retail Limited IPO will be open for bidding from August 30, 2024, to September 3, 2024, with shares priced at ?370 to ?389 per share on BSE & NSE.?

Key Events to Track For 30th 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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