Closing Bell: Nifty 50 and Sensex Closed Flat
The Indian stock market closed flat, with major indices like Nifty Media (4.10%), Nifty Financial Services (1.48%), and Nifty Pharma (0.77%) ending the session in green.
On August 27, 2024, both the benchmark indices, Nifty 50 and Sensex, were almost flat. Nifty 50 closed at 25,017.75 with a gain of 0.03%, while Sensex was 0.01% to 81,711.76. Nifty Bank was up 0.26% to 51,278.75, and Nifty 500 grew 0.18% to 23,604.85. The volatility indicator Nifty VIX slipped by 0.72% to 13.70, reflecting a decline in volatility.
Sectoral Performance
Media stocks gained momentum during the trading session. As a result, Nifty Media closed at 2,148.85 with a gain of 4.10%. Nifty Financial Services 25/50 ended in green with a gain of 1.48% to 26,297.90. Other sectoral indices that closed in the green include Nifty Pharma, Nifty Realty, Nifty Private Bank, Nifty IT, and Nifty PSU Bank.
On the other hand, Nifty FMCG slipped 1.06% to 62,981.15. Also, the metal stocks were in pressure, which resulted in a fall of 0.61% in Nifty Metal to 9,432.75.
Top Gainer and Losers
Top gainers for the day were Bajaj Finserv Limited, SBI Life, Maruti Suzuki India Limited, HDFC Life and Larsen & Toubro, while JSW Steel, Titan, Hindustan Unilever, Grasim Industries and Coal India Limited were the top losers.
Oil Prices
Oil Prices witnessed volatility during the trading session on August 27, 2024. At 4:50 PM, Brent Crude stood at 81.08, reflecting a fall of 0.43%, with an annual value of $1.5 trillion, oil and its products make up 30% of all commodity exports worldwide. The energy sector accounts for 40% of the annual value of global commodity exports ($2 trillion), which includes exports of coal, power, and natural gas. However, they are worth less than mineral exports ($1.4 trillion) and agricultural exports ($1.9 trillion).
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.