Market Wrap, August 21: Indices extend gains for 6th session; NIFTY50 ends at 25,084, SENSEX rises 143 points; pharma stocks shine

The Indian stock market closed positive for the sixth straight session on Thursday, August 21, driven by a rally in pharma stocks.

The broader market, however, paused its winning streak and closed lower on Thursday.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹1,100.09 crore, while the domestic institutional investors (DIIs) bought equities worth ₹1,806.34 crore on a net basis.

Globally, Asian stocks were mixed on Thursday as investors were cautious ahead of a key meeting of the Federal Reserve.

Investors are also looking ahead for cues about US monetary policy from a meeting of central bankers that begins later in the day in Jackson Hole, Wyoming. Federal Reserve Chair Jerome Powell is due to speak at the conference on Friday.

Japan's Nikkei slipped 0.62%, Hong Kong's Hang Seng closed 0.39% lower, while South Korea's KOSPI rose 0.37%, and the Shanghai Composite ended up by 0.13%.

On Wall Street, shares dropped on Wednesday, driven by a selloff in the tech stocks for the second day.

The S&P 500 lost 16.40 points, or 0.26%, to end at 6,394.97 points, while the Nasdaq Composite slipped 144.76 points, or 0.68%, to 21,170.19. The Dow Jones Industrial Average settled flat at 44,923.75.

As many as 3,068 stocks traded on the NSE on Thursday. Out of this, 1,506 advanced and 1,476 stocks declined, while 86 scrips remained unchanged.

This indicates that the market breadth was in favour of advances.

A total of 82 stocks hit their 52-week highs, while 28 stocks touched their one-year lows. Besides, 99 stocks hit their upper circuit limits, and 35 touched their lower circuit bands on Thursday.

NSE-listed firms' market capitalisation stood at ₹452.88 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 11.37 levels, declining 3.5%.

The Nifty Smallcap 100 index ended flat, down at 17,966.35 levels, while the Nifty Midcap 100 index closed 0.38% lower at 57,708.95 levels.

Nifty Pharma was the highest-gaining sector, rising 0.95%. Nifty Realty (0.38%), Nifty Oil and Gas (0.30%) and Nifty Private Bank (0.14%) were other contributors among sectors.

On the contrary, Nifty FMCG (-0.64%), Nifty PSU Bank (-0.37%), Nifty Auto (-0.36%), Nifty Consumer Durables (-0.22%) and Nifty Metal (-0.04%) were the biggest losers.

Cipla took the lead among gainers, jumping 3.09%, followed by Dr Reddy’s (2.61%), Bajaj Finserv (1.03%), ICICI Bank (0.99%) and Hindalco Industries (0.88%).

On the flip side, Tata Consumer Products (-1.57%), Bajaj Auto (-1.56%), Eternal (-1.55%), Power Grid (-1.51%) and IndusInd Bank (-1.36%) were the biggest laggards on the 50-share index.