Indian Stock Market Closes Higher: Sensex Rises 373 Points, Nifty Ends Above 24,636
The Indian stock market ended higher on August 6 as the Sensex gained 373 points to close at 78,954, while the Nifty settled at 24,636. Gains in PSU, oil & gas, and banking stocks supported the rally.
Prasanth Subramani
The Indian stock market ended on a positive note on August 6, extending its gains after the Reserve Bank of India (RBI) kept the repo rate unchanged. Investor sentiment remained upbeat as benchmark indices closed higher for the day.
The BSE Sensex opened at 78,782 and initially slipped to an intraday low of 78,633 before recovering strongly during the afternoon session. The index touched an intraday high of 78,954.76 and eventually settled at 78,954, gaining 373 points.
The NSE Nifty 50 opened at 24,641 and declined to an intraday low of 24,604 before regaining momentum. The benchmark index ended the session at 24,636, up 11.35 points.
Public sector undertaking (PSU) stocks and oil & gas companies led the market rally, while information technology (IT) stocks and Nifty Midcap shares witnessed selling pressure.
Among the Sensex constituents, Reliance Industries emerged as the top gainer, rising 3.52%. Other notable gainers included State Bank of India (2.85%), Eternal (1.91%), Titan Company (1.75%), Sun Pharma (0.57%), ICICI Bank (0.52%), Axis Bank (0.17%), and Larsen & Toubro (0.12%).
On the downside, Power Grid Corporation fell 3.91%, followed by Tata Steel (-1.92%), Tata Consultancy Services (TCS) (-1.66%), Bharti Airtel (-1.52%), InterGlobe Aviation (-1.51%), and Kotak Mahindra Bank (-1.50%).
Market participants remained optimistic following the RBI's decision to maintain the repo rate, while investors continued to monitor corporate earnings, global market trends, crude oil prices, and macroeconomic indicators for further direction in the coming sessions.
