Last Updated:
Stock Market Today: The BSE Sensex surges by 676.09 points or 0.84% to settle at 81,273.75 and the NSE Nifty jumps 245.65 points or 1% to close at 24,876.95.
Nifty Today.
Stock Market Updates Today: The domestic equity markets on Monday started the week on a bullish note, with benchmark indices surging amid firm domestic signals and steady global trends. The BSE Sensex surged by 676.09 points or 0.84% to settle at 81,273.75 and the NSE Nifty jumped 245.65 points or 1% to close at 24,876.95.
During the day, the stock market cooled after a strong opening. The BSE Sensex had opened higher by 1,063 points at 81,661.59, while the NSE Nifty had jumped by 368 points to trade at 25,002.32 in the morning trade.
Automobile and consumer durable stocks saw the biggest gains after Prime Minister Narendra Modi’s Independence Day announcement of a major overhaul in the Goods and Services Tax (GST) structure. According to reports, the Centre is considering scrapping the current 12% and 28% GST slabs, realigning most items into the 5% and 18% categories.
Also Read: Why Is Stock Market Rising Today? Know Key Factors Behind Sensex, Nifty Rally On August 18
The market witnessed a major rally in auto and consumer goods stocks, including Ashok Leyland, Voltas, Hyundai Motor India, Hero MotoCorp, Maruti Suzuki, and PG Electroplast.
Among the 30 stocks of Sensex, 20 ended the day in green. Among the top gainers were Maruti Suzuki (8.94% up), Bajaj Finance (5.02%), UltraTech Cement (3.71%), Bajaj Finserv (3.7%), and M&M (3.54%).
On the other hand, ITC (down by 1.26%), Larsen & Toubro (-1.18%), Eternal (-1.16%), HCL Tech (-1.02%), NTPC (-0.90%), and Infosys (-0.82%) were among the losers.
In the broader market, BSE Midcap and BSE Smallcap indices also rose by 1% and 1.29%, respectively.
On Nifty indices, the auto sector was up 4.18%, followed by consumer durables (3.38%), realty (2.17%), financial services (2.11%), metal (1.86%), and FMCG (1.19%).
Experts said India had two positive cues on August 18 — the GST cuts within the next 50 days announced by the PM during his Independence Day speech, and the Sovereign Rating upgrade for India announced by S&P Global.
The watchful cue is also the US-EU-Ukraine meeting outcome tonight. The negative is that the US has pulled back from the visit of its trade delegation to India that was to start from August 25th, they added.
V K Vijayakumar, chief investment strategist of Geojit Investments Limited, said, “The proposed rationalisation of GST is a sentiment booster for the domestic market. Additionally, the recent conclusion of the US and Russia summit, without any escalation in geopolitical tensions, has helped ease investor anxiety. The automobile sector outperformed, emerging as a key beneficiary of the anticipated tax reforms. In H2FY26, we expect the consumption-led sectors to show some traction on account of demand revival.”
Technical View
“The Nifty opened with a gap-up but faced initial resistance at 25,000, leading to an intraday decline due to profit booking at higher levels. The sentiment, however, remains positive, with the potential to revisit 25,000 in the coming days. Immediate support is placed at 24,800, below which the index may drift towards 24,500. On the higher side, a decisive move above 25,000 could trigger a larger rally in the market,” Rupak De, senior technical analyst at LKP Securities, said.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
view comments
Read More
