The stock market continued to rise. The Sensex closed above 39,000 points on August 26 and the Nifty closed above 11,500 points. The Sensex was up 230 points and the Nifty 77 points. Shares of automobiles and banks played a major role in the market surge.
The Sensex ended at 39,073 points on the day. It was up 39,111 points during trading. The day’s low was 38,765 points.
On August 25, the US stock market set a new all-time high. The stock market continues to jump. This was also reflected in the boom in the Indian market. Right now, global indicators are mainly driving the Indian market.
Similarly, the Nifty closed at 11,549 points. The stock ended the day at 11,462 points.
Thirty-two Nifty stocks gained while 18 stocks lost. Tata Motors, Hero Motors, IndusInd Bank, Zee Limited and Kotak Mahindra Bank were the top five gainers in the Nifty. Tata Motors was up 8.81 per cent and Hero Motors was up 6.49 per cent. IndusInd Bank and Zee Limited gained over 5 per cent.
The Nifty Bank Index was up 1.39 per cent and the Nifty Auto Index was up 1.46 per cent. The move to cut GST on two-wheelers has benefited companies in the sector. This is the main reason why Hero Motors jumped.
Bharti Airtel, Ultratech Cements, Asian Paints, Maruti Suzuki and HDFC Life were the top five losers in the Nifty. Bharti Airtel and Ultratech Cement fell more than two per cent.
