Stock market bounces back;Sensex ends 267 points higher,Nifty closes around 19400

Stock market bounces back;Sensex ends 267 points higher,Nifty closes around 19400

Ira Singh
21 Aug’23

The Indian equity market indices bounced back after 2-day break on Monday, weighed by Information Technology (IT) and financial stocks, amid tracking slide in Reliance Industries following spin-off Jio Financial’s weak trading debut.

At close, the Sensex was up 267.43 points or 0.41 percent at 65,216.09, and the Nifty was up 83.45 points or 0.43 percent at 19,393.60.

Stocks and Sectors

Bajaj Finance, Adani Ports, Power Grid Corp, Adani Enterprises and Hindalco Industries were the biggest gainers on the Nifty,while losers included Reliance Industries, M&M, Britannia Industries, SBI Life Insurance and BPCL.

On the sectoral front,all indices traded in the green with information technology, realty, metal, power and capital goods up 1-2 percent.

The BSE midcap and smallcap indices added nearly a percent each.

On 21st Aug’23,the Indian rupee depreciated by 2 paise and settled for the day at an all-time low of 83.12 against the U.S. dollar weighed down by a surge in crude oil prices and selling pressure by foreign investors.

Experts Take:
Market experts have recommended six stocks to buy for Monday-HCL Tech, Dabur, Bank of Baroda, Tata Chemical, Welspun Enterprises and Lemon Tree.