The stock market witnessed a remarkable surge on Monday, August 4th. The week began with b signals, igniting considerable enthusiasm among investors. The Bombay Stock Exchange (BSE) Sensex jumped by 418.81 points to close at 81,018.72. Similarly, the National Stock Exchange (NSE) Nifty climbed 157.40 points, closing at 24,722.75.
Sectoral Gains: Metals and Auto Lead the Rally
The metal and auto sectors experienced the most significant gains in today's trading session. Stocks like Tata Steel, JSW Steel, and Hero MotoCorp saw substantial buying activity. Conversely, some stocks in the pharma and banking sectors showed slight weakness.
NSE Trading Overview
A total of 3,093 stocks were traded on the National Stock Exchange today. Of these, 1,833 closed with gains, while 1,168 experienced losses. Furthermore, 92 stocks remained largely unchanged. These figures reflect the overall strength of the market.
Top Performing Stocks of the Day
Several stocks displayed significant gains in today's trading, securing their place among the top performers.
- Hero MotoCorp: Shares of this auto company surged by ₹224.30 to close at ₹4,535.90. The company has seen consistent buying interest, and its fundamentals are considered b.
- Tata Steel: This metal sector giant recorded a gain of ₹159.56, a 4.28 percent increase, closing near ₹3,884.28.
- Bharat Electronics Limited (BEL): BEL's shares closed at ₹389.55, up by ₹12.35. This prominent defense sector stock saw increased investor interest driven by expectations of government orders.
- Adani Ports: Shares of this company rose by ₹41.80, closing at ₹1,388.90. Adani Group companies have recently shown renewed positive momentum.
- JSW Steel: This stock closed at ₹1,055.90, gaining ₹28.10. The stock benefited from the overall surge in the metal sector.
Stocks That Experienced Weakness
While the market experienced widespread gains, some stocks faced downward pressure.
- Power Grid Corporation: This stock closed at ₹287.95, a decrease of ₹3.30. Profit-taking was observed after recent gains.
- HDFC Bank: This major banking sector stock saw a decline of ₹20.20, closing at ₹1,992.
- ONGC: Shares of this government-owned company fell by ₹1.96 to close at ₹234.83. Fluctuations in crude oil prices impacted the stock.
- Apollo Hospital: This healthcare sector stock declined by ₹43.50, closing at ₹7,308.
- ICICI Bank: This private sector bank's shares closed at ₹1,463.20, a decrease of ₹8.40.
Reasons for Market Surge
Several key factors are attributed to today's surge. First, positive cues from the US and Asian markets clearly influenced the Indian market. Furthermore, consistent buying from domestic investors, partial return of FIIs, and expectations of positive results in some major sectors contributed to the market's strength.
Midcap and Smallcap Stocks Shine
Not only the Sensex and Nifty, but midcap and smallcap stocks also provided good returns to investors today. Many mid and small-sized companies' stocks saw gains of 5 to 10 percent. Investors showed interest in diversified sectors, which further strengthened the market's breadth.
The market opened in the green in the morning, and despite fluctuations throughout the day, the sentiment remained b. After noon, as European markets experienced slight gains, buying activity in the Indian market also intensified.
Role of FIIs and DIIs
Domestic Institutional Investors (DIIs) continued their buying spree in today's session. There were also discussions in the market about some capital inflows from Foreign Institutional Investors (FIIs). These investor activities play a major role in determining the market's direction.
Now, the market's attention will be focused on economic data, companies' quarterly results, and global cues that are expected this week. In addition, news related to inflation and interest rates in foreign markets may also affect the market's movement.
