Indian stock markets ended the day on a cautious note, with both Sensex and Nifty closing slightly higher in a rangebound trading session on August 23. Investors were cautious ahead of US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium, which is expected to provide insights into the timing and size of future interest rate cuts.
At the close of trading, the Sensex was up 33.02 points, or 0.04 percent, settling at 81,086.21. The Nifty also edged higher by 11.65 points, or 0.05 percent, to end the day at 24,823.15. Over the week, the Sensex rose by 0.9 percent, while the Nifty 50 climbed 1 percent.
Market Movers:
- Top Gainers: Bajaj Auto, Coal India, Tata Motors, Sun Pharma, and Bharti Airtel were among the top performers on the Nifty.
- Top Losers: Wipro, ONGC, Divis Labs, LTIMindtree, and Infosys saw declines.
Among individual stocks:
- Bajaj Auto shares jumped by nearly 5 percent due to an increase in its two-wheeler EV market share and positive outlook from JP Morgan.
- TVS Motor Company shares rose over 2 percent after UBS raised its target price for the stock.
- Jain Irrigation Systems saw an 11 percent increase after signing an MoU with the Coffee Board of India.
- Power Mech Projects saw an 8 percent rise after the board announced a 1:1 bonus issue.
- PCBL shares surged nearly 11 percent, hitting a record high, after the company highlighted growth opportunities in its investor presentation.
- Reliance Power shares fell by 5 percent following a ban on promoter Anil Ambani from the securities market for five years.
- RailTel Corporation of India shares rose by nearly 6 percent after securing a work order worth ₹52.66 crore.
- FSN E-Commerce shares, the parent of Nykaa, surged by nearly 8 percent following a significant block deal.
