Sensex, Nifty 50 rise for 4th consecutive session— 10 key highlights from the Indian stock market today

The Indian stock market stayed in positive territory for the fourth consecutive session on Tuesday, August 19, as GST rationalisation and India’s credit rating upgrade kept investor risk appetite intact.

The Sensex closed 371 points, or 0.46 per cent, higher at 81,644.39, while the Nifty 50 settled at 24,980.65, up 104 points, or 0.42 per cent. The BSE Midcap and Smallcap indices outperformed, rising by a percentage each.

Shares of Reliance Industries, Bharti Airtel and Tata Motors ended as the top contributors to the gains in the benchmarks.

Investors earned over ₹3 lakh crore in a single session as the overall market capitalisation of the firms listed on the BSE rose to over ₹454 crore from ₹451 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. Why did the Indian stock market rise for the fourth consecutive session?

The market’s rally is being driven by Prime Minister Narendra Modi's announcement of GST rationalisation, S&P Global’s upgrade of India’s credit rating, and optimism over a possible end to the Russia-Ukraine war.

"The national market continued the renewed momentum, buoyed by expectations of GST rationalisation and a recent upgrade in India's credit rating. Additional optimism came from signs of easing geopolitical tensions between Russia and Ukraine, shifting the near-term outlook from consolidation to a more constructive stance," Vinod Nair, Head of Research, Geojit Investments Limited, observed.

"Small- and mid-cap stocks outperformed, with auto stocks leading gains, driven by hopes that China may address supply concerns related to rare earth magnets," said Nair.

2. Top gainers in the Nifty 50 index

As many as 28 stocks ended higher in the Nifty index, with Tata Motors (up 3.62 per cent), Adani Ports (up 3.22 per cent), and Reliance Industries (up 2.84 per cent) ending as the top gainers.

3. Top losers in the Nifty 50 index

Shares of Dr. Reddy's Laboratories (down 1.40 per cent), Cipla (down 1.15 per cent), and Hindalco Industries (down 1.03 per cent) closed as the top losers.

4. Sectoral indices today

All sectoral indices ended higher, except Nifty Pharma (down 0.34 per cent), Financial Services (down 0.06 per cent), and Healthcare (down 0.05 per cent).

Nifty Oil & Gas (up 1.66 per cent), Media (up 1.34 per cent), Auto (up 1.31 per cent), FMCG (up 1.05 per cent), PSU Bank (up 0.98 per cent), and Metal (up 0.75 per cent) ended with significant gains.

Nifty Bank ended with a mild gain of 0.23 per cent, while the Private Bank index climbed 0.42 per cent.

5. Most active stocks in terms of volume

Ola Electric Mobility (58.32 crore shares), Vodafone Idea (35.3 crore shares), and Suzlon (10 crore shares) were the most active stocks in terms of volume on the NSE.

6. 13 stocks jump over 15% on BSE

HLE Glascoat, Alphalogic Industries, KIOCL, Davin Sons Retail, and Sharma East India Hospitals & Medical Research were among the 13 stocks that jumped over 15 per cent on the BSE.

7. Advance-decline ratio

Out of 4,232 stocks traded on the BSE, 2,631 advanced, while 1,437 declined. Some 164 stocks remained unchanged.

8. Over 140 stocks hit 52-week highs

Maruti Suzuki India, JSW Steel, HDFC Asset Management Company, TVS Motor Company, Ashok Leyland, and Hyundai Motor India were among the 143 stocks that hit their 52-week highs in intraday trade on the BSE.

9. 65 stocks fall to 52-week low

Some 65 stocks, including Mercury Ev-Tech, Ksolves India, KCP Sugar & Industries Corporation, Flexituff Ventures International, and BlueStone Jewellery and Lifestyle, hit their 52-week lows on the BSE.

10. Nifty's technical outlook

Shrikant Chouhan, the head of equity research at Kotak Securities, pointed out a bullish candle on daily charts and an uptrend continuation formation on intraday charts, indicating a further uptrend from the current levels.

"For day traders, as long as the index trades above 24,875, the uptrend wave is likely to continue on the higher side, potentially moving up to 25,150-25,250. On the flip side, below 24,875, the uptrend would become vulnerable," said Chouhan.

According to Rupak De, Senior Technical Analyst at LKP Securities, the RSI indicator is in a classic bullish crossover, indicating strong positive momentum.

"Going forward, the index might remain strong; the strength increases above 25,000. On the lower end, support is placed at 24,800. Positive sentiment remains intact as long as it remains above," said De.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.