Updates on the stock market for August 14, 2024: Within-day transactions on Wednesday saw range-bound movements in the key Indian market indices.
The BSE Sensex was up 50 points at 79,000 levels after moving within a narrow range of 78,896 to 79,114. The NSE Nifty 50 was observed to be circling 24,150 points.
Of the 30 equities on the Sensex, Tata Motors gained the most, rising more than 1%. The other big players were Larsen & Toubro, Sun Pharma, Tech Mahindra, and SBI. Conversely, the notable losers were Axis Bank, ICICI Bank, UltraTech Cement, and Adani Ports.
The BSE MidCap index dropped more than 1% in the overall market, while the SmallCap fell 0.7%.
Following a dip in bond yields and the rekindling of expectations for a rate cut in September, the US market ended the night with strong gains, with the Dow Jones up 1% and the NASDAQ up 2.4%. PPI (Producer Price Index) inflation rose only 0.1% on a monthly basis in July, compared with the 0.2% rise expected.
Nearer home in Asia, the Hang Seng gained 0.2% while the Nikkei, Kospi, and Taiwan all saw rallies of more than 1% each.
Due to the Independence Day holday, trading on the Indian stock market will be suspended on August 15.