Sensex and Nifty: Trading in the Indian stock market started with weakness on August 19. Both Sensex and Nifty were in the red in early trading. Auto, metal, power, energy and realty stocks were under pressure in early trade. However, buying in some big stocks of IT sector tried to manage the market.
In early trade, BSE’s main index Sensex opened with a decline of 29.24 points at the level of 77,196.22. At the same time, NSE’s Nifty 50 index slipped 22.85 points to 24,132.05 and came very close to the important support level of 24,100. In early trade, about 1,210 shares were in gain, while 1,135 shares were in decline. At the same time, there was no significant change in 154 shares. This indicates that there is not a complete selling environment in the market, rather the strategy of investors seems to be different in different sectors.
IT and FMCG shares took over, selling in auto and metal
Amidst the pressure in the market, IT and FMCG sectors tried to provide support, while metal, power and banking stocks put downward pressure on the index.
Sensex top gainer stocks
HCL Tech: +1.14%
Eternal: +1.08%
Infosys: +0.90%
Sun Pharma: +0.83%
Apart from this, Wipro, Tech Mahindra, NTPC (+0.37%), Kotak Bank (+0.31%), Trent (+0.20%) and ITC (+0.19%) were also seen trading in the green.
Top loser stocks of Sensex
Mahindra & Mahindra: -1.17%
Tata Steel: 0.97%
Bajaj Finance: -0.68%
Bajaj Finserv: -0.62%
State Bank of India: -0.35%
Indigo: -0.31%
Apart from this, profit booking was also seen in Hindalco, Larsen & Toubro (-0.86%) and Bharat Electronics (-0.80%).
Sectoral index: Nifty IT on green mark, pressure on energy
On sector basis, strength was seen in Nifty IT (+0.84%), Nifty FMCG (+0.35%) and Nifty Pharma (+0.16%). On the other hand, Nifty Energy (-0.42%), Nifty Realty (-0.30%), Nifty Infra (-0.28%) and Nifty Bank (-0.19%) appeared under pressure, limiting the gains in the market.
Crude oil prices rise
Crude oil prices continued to rise. Oil is trading with gains for the fourth consecutive session. Brent crude reached around $91.56 per barrel, while US crude reached around $85.59 per barrel. Due to this, there is a bullish trend in the oil market.