Stock market today: The majority of the sectors saw gains, helping domestic benchmark indices end in the green for the second session in a row. All sectoral indices ended in the green besides those of consumer durables and fast-moving consumer goods.
Further, analysts claim that the economic data from the US supports the theory of a soft landing that has been driving equity markets globally.
The US unemployment rate increased to 3.8% in August, while the average hourly salary is on the decline. With regard to the September meeting, the Fed is probably going to hold rates, according to the statistics. This was overall encouraging news for the global equity markets.
Sensex closed 241 points, or 0.37 per cent, higher at 65,628.14 while the Nifty closed the day with a gain of 102 points, or 0.53 per cent, at 19,537.45. India Vix was down by 3.54%.
Coal India Ltd (up 4.64%), Wipro Ltd (up 4.35%), UltraTech Cement Ltd (up 3.96%), HCL Technologies Ltd (up 3.90%), and Jio Financial Services Ltd (up 3.88%)were among the top gainers of Nifty 50. Mahindra & Mahindra Ltd (down 1%), Nestle India Ltd (down 0.98%), ITC Ltd (down 0.80%), Axis Bank Ltd (down 0.78%), Bajaj Finance Ltd (down 0.58%) were among the laggards today.
“Recent releases of domestic macroeconomic data have portrayed a positive picture for the domestic markets, allowing them to maintain their momentum. Despite profit booking in Nifty Auto after reaching an all-time high, the market regained its footing with robust buying in IT stocks.
The increase in the US unemployment rate has solidified expectations of a pause in rate hikes, and positive global cues have further boosted market sentiment,” said Vinod Nair, Head of Research at Geojit Financial Services.
Here is the list of stocks who are top losers and gainers during September 4 trading session:
Sensex
Top Gainers: Wipro Ltd (up 4.34%), HCL Technologies Ltd (up 3.98%), UltraTech Cement Ltd (up 3.82%), Tata Steel Ltd (up 3.62%), and Tech Mahindra Ltd (up 2.39%) were among the top gainers of Sensex.
Top Losers: Mahindra & Mahindra Ltd (down 0.97%), Axis Bank Ltd (down 0.93%), ITC Ltd (down 0.84%), Asian Paints Ltd (down 0.76%), Bajaj Finance Ltd (down 0.67%) were among the laggards today.
Nifty
Top Gainers: Coal India Ltd (up 4.64%), Wipro Ltd (up 4.35%), UltraTech Cement Ltd (up 3.96%), HCL Technologies Ltd (up 3.90%), and Jio Financial Services Ltd (up 3.88%)were among the top gainers of Nifty 50.
Top Losers: Mahindra & Mahindra Ltd (down 1%), Nestle India Ltd (down 0.98%), ITC Ltd (down 0.80%), Axis Bank Ltd (down 0.78%), Bajaj Finance Ltd (down 0.58%) were among the laggards today.
(more to come)
Download The Mint News App to get Daily Market Updates.
Updated: 04 Sep 2023, 03:45 PM IST