NIFTY50, SENSEX close in green, snap 3-day losing streak; check top gainers and losers

Indian benchmark indices SENSEX and NIFTY snapped a three-day downward momentum on Wednesday, August 7, and closed in the green.

NIFTY50 rose 1.43% to hit an intraday high of 24,337.7 points. However, the key index pared some gains to settle at 24,297.5, up 1.27% or 304.95 points.

The 30-share SENSEX also closed in the green at 79,468.01 points, rallying 874.94 points, or 1.11%. In intraday trade, the benchmark index surged to a high of 79,639.2 points.

Experts say domestic markets saw a relief rally today amid strong global cues. However, volatility and cautious sentiments still prevail among investors due to rising tension in the Middle East.

All eyes will be on Thursday's RBI policy outcome. The monetary policy committee is likely to keep the interest rate unchanged. However, interest rate-sensitive sectors and stocks will be the focus.

Sectoral Indices

All the sectoral indices settled in the positive territory after the recovery in Japanese stocks and an upbeat mood in the United States markets following the recent Federal Reserve comments that eased recession worries. However, the Indian rupee fell to a historic low of ₹83.97 against the US dollar.

The NIFTY Oil & Gas index led the gains among all the sectoral indices, closing 3.06% higher, followed by the NIFTY Metal index, which settled 2.69% higher.

Out of the NIFTY50 constituents, 44 stocks closed in the green, while 6 stocks settled in the red.

ONGC, Coal India and Adani Enterprises among top NIFTY gainers

ONGC, Coal India, Adani Enterprises, Adani Ports and Bajaj Auto were among the top gainers on the NIFTY50. Stocks of oil and gas companies led the gains with ONGC surging 8.11% to an intraday high of ₹330.95 apiece. The stock closed at ₹328.9 apiece, up by 7.45%. The stock also emerged as the biggest gainer in the NIFTY Oil & Gas index.

Coal India was the second biggest gainer among NIFTY50 stocks, closing at ₹530.8 apiece, up 6.24%.

Adani Enterprises was the third biggest gainer in Wednesday’s trade and closed 3.7% higher at ₹3,186.45 apiece. The stock surged 3.81% to hit an intraday high at ₹3,190 apiece.

Adani Ports SEZ Ltd emerged as the fourth biggest gainer among all the NIFTY50 constituents. The stock closed 3.35% higher at ₹1,544.15 apiece.

Power Grid Corporation of India, Shriram Finance, Hindalco, Bajaj Auto, and BPCL were among the other top gainers on the benchmark index, gaining as much as 3.06%.

IndusInd Bank, Tech Mahindra and HUL among top NIFTY losers

IndusInd Bank, Tech Mahindra, Hindustan Unilever, Britannia, and Titan led the losses among the NIFTY50 index constituents, falling as much as 2.4%.

IndusInd Bank was the biggest loser among all NIFTY50 constituents. The private sector lender’s shares closed at ₹1,347.15 apiece, down 2.45%. The stock also emerged as the biggest loser among the NIFTY Private Bank index shares.

Tech Mahindra’s shares were second on the NIFTY50 top losers’ list. The stock closed at ₹1,474 apiece, down 0.63%.

Hindustan Unilever shares dropped 0.52% to hit an intraday low of ₹2,735.5 apiece on the NSE. The stock closed ₹2,742.95 apiece, down 0.26%.

Britannia Industries, Titan, Asian Paints and Bharti Airtel were among the other major losers on the NIFTY50 index on August 7.

Global Markets

The Asian peers extended their recovery from Monday's low. The Kospi index surged 1.80%, followed by Hang Seng and Nikkei 225, both indices gained over 1%. Meanwhile, the Shanghai index closed with a marginal gain. At 4:45 PM, the Dow Jones Futures were trading up by 322 points at 39,465.