Surge in stock market continues

The stock market gained for the fifth day in a row. The Sensex was up 39 points on August 27 and the Nifty was up 10 points. Sectors such as Energy, Oil & Gas and FMCG were at a loss. At the same time, the real estate sector registered a good performance.

The Sensex closed at 39,113 points on the day. The stock had gained 39,326.98 points during the trade session. The day’s low was 39,046.94 points. Similarly, Nifty closed at 11,559 points.

The US stock market has been steadily rising for the past few days. This was also reflected in the boom in the Indian market. Mainly global indicators are driving the Indian market right now.

Twenty-three Nifty stocks gained while 27 stocks lost ground. IndusInd Bank, Mahindra & Mahindra, Tata Motors, SBI and Grasim Industries are the top five gainers in the Nifty. IndusInd Bank was up 6.83 per cent. Shares of Mahindra & Mahindra and Tata Motors rose over 4 per cent.

Real estate stocks rose sharply on the day. The Nifty Realty Index is up 6.40 per cent in a single day. Shares of DLF (9.47 per cent), Prestige (8.19 per cent) and Oberoi Realty (7.06 per cent) surged. The Maharashtra government has reduced the stamp duty on housing from 5 per cent to 2 per cent to boost the real estate sector, which has pushed up real estate stocks.

Automobile stocks performed well. The Nifty Auto Index has risen 12 per cent in the last one month. Demand for this specialty has grown significantly as a result of recent corporate scandals.

ONGC, Reliance Industries, Bajaj Auto, Zee Limited and Coal India are the top five losers in the Nifty on August 27.