Stock Market Today: Sensex, Nifty End Losing Streak - Top 10 Updates
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Supported by late-session buying, benchmark indices-the Sensex and Nifty 50-ended slightly higher on Thursday, August 7, despite fragile market sentiment amid growing worries over Trump’s tariffs and their economic impact.
The Sensex edged up 79 points (0.10%) to close at 80,623.26, while the Nifty 50 rose 22 points (0.09%) to settle at 24,596.15.
Among broader markets, the BSE Midcap index gained 0.30%, whereas the BSE Smallcap index dipped 0.18%.
Analysts believe the broader impact of the US tariffs on the Indian economy is likely to be contained, with expectations that the government may step in to support sectors most vulnerable to US exposure.
Vinod Nair, Head of Research at Geojit Financial Services, noted that market sentiment improved late in the session following reports of possible peace talks involving Trump, Putin, and Zelensky-raising hopes of a softer US trade stance.
"This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green," Nair said.
Among financials, Nifty Bank added 0.20%, while the Financial Services index edged up 0.12%.
8. 111 Stocks Hit 52-Week HighsAs many as 111 stocks touched their 52-week highs during intraday trade on the BSE, including JSW Steel, TVS Motor Company, Delhivery, Godfrey Phillips India, and Fortis Healthcare.
"Immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis,"he noted.
Chandan Taparia, Head of Derivatives and Technicals – Wealth Management at Motilal Oswal Financial Services, pointed out that on the options front, the highest Call Open Interest (OI) is seen at 24,700 and 25,000 strikes, while the maximum Put OI is at 24,500 and 24,000 strikes.
He added, "Option data suggests a broader trading range between 24,100 and 25,100 zones, while an immediate range between 24,300 and 24,800 levels,"
The Sensex edged up 79 points (0.10%) to close at 80,623.26, while the Nifty 50 rose 22 points (0.09%) to settle at 24,596.15.
Among broader markets, the BSE Midcap index gained 0.30%, whereas the BSE Smallcap index dipped 0.18%.
Analysts believe the broader impact of the US tariffs on the Indian economy is likely to be contained, with expectations that the government may step in to support sectors most vulnerable to US exposure.
Vinod Nair, Head of Research at Geojit Financial Services, noted that market sentiment improved late in the session following reports of possible peace talks involving Trump, Putin, and Zelensky-raising hopes of a softer US trade stance.
"This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green," Nair said.
Among financials, Nifty Bank added 0.20%, while the Financial Services index edged up 0.12%.
8. 111 Stocks Hit 52-Week HighsAs many as 111 stocks touched their 52-week highs during intraday trade on the BSE, including JSW Steel, TVS Motor Company, Delhivery, Godfrey Phillips India, and Fortis Healthcare.
"Immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis,"he noted.
Chandan Taparia, Head of Derivatives and Technicals – Wealth Management at Motilal Oswal Financial Services, pointed out that on the options front, the highest Call Open Interest (OI) is seen at 24,700 and 25,000 strikes, while the maximum Put OI is at 24,500 and 24,000 strikes.
He added, "Option data suggests a broader trading range between 24,100 and 25,100 zones, while an immediate range between 24,300 and 24,800 levels,"
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