Finance
Today’s Stock Market News | Sensex, Nifty, and Share Prices Highlights: The NSE Nifty 50 and BSE Sensex closed in the green on Tuesday, extending their two-day winning streak. The Nifty 50 closed at 19,574.90, up 0.24%, while the Sensex advanced 150 points to 65,780.26. The broader markets finished mostly in the green, with the Nifty Midcap up more than 1% and the Nifty Smallcap up 0.84%. Bank Nifty and Nifty Auto ended flat, slightly in the red. Nifty Media outperformed the group, rising more than 3% intraday. Nifty Pharma, Nifty FMCG and Nifty IT all added gains as well.
USDINR CMP- 83 (spot) Indian Rupee depreciated on Tuesday on strong Dollar and weak Asian currencies. Weak global markets and disappointing macroeconomic data from India also weighed on Rupee. India’s services PMI declined to 60.1 in August from 62.3 in July and forecast of 61. FIIs continued to sell in the domestic markets. However, softness in crude oil prices cushioned the downside. US Dollar gained on safe haven demand amid risk aversion in global markets.
“The Nifty Midcap index crosses the psychological 40,000 mark, gaining nearly 35% in the last six months, while the smallcap index soars above the 12,000 mark to capture around 40% gain since March 2023. Despite this humongous gain in prices in such a short span of time, we are still more optimistic about both indexes as growing risk appetency will continue to buoy both segments.”
Asian-Pacific markets traded in the red on Monday. Chinese indices Shanghai Composite and Shenzhen Component decreased by 0.6% and 0.53% respectively. Japan’s Nikkei-225 fell by 0.31%, while Hong Kong’s Hang Seng index dropped by 1.28%. South Korea’s KOSPI was lower by 0.32%.
Oil prices were mixed on Tuesday as support from China’s measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia.
