Market Commentary Mid Session News Details

Domestic stocks move modestly higher

(28-Aug-26   09:45)

The key equity barometers traded with marginal gains in early trade. Nifty opened at 24123 and hit a high of 24146 in first half hour of trade. Nifty IT, Nifty Media and Nifty Metal shares gained, while Nifty Financial Services and Nifty Private Bank shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, inched up 277.54 points or 0.36% to 77,211.13. The Nifty 50 index moved higher by 38.70 points or 0.16% to 24,129.55.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index posted modest gains of 0.35% and the BSE 250 SmallCap Index edged higher by 0.41%.

The market breadth was favorable. On the BSE, 2207 shares advanced and 1445 shares retreated. A total of 226 shares were unchanged.

Nifty IT index climbed 2.51% to 30979. The index has moved higher by 2.65% in last one month and slipped 14.84% over last one year. Coforge, edging up 3.53%, led the gainers followed by LTM, gaining 3.42% and TCS, up 2.96%, respectively. All 10 constituents are advancing today.

Nifty Media index inched up 0.75% to 1609. The index has risen slightly by 2.10% in last one month and moved lower by 0.60% over last one year. Sun TV Network, inching higher 3.62%, led the gainers followed by Nazara Technolo., adding 1.50% and Prime Focus, up 1.48%, respectively. Out of 10 index constituents, 5 are reporting gains today.

Nifty Financial Services index lost 0.35%. The index has inched higher by 0.59% in last one month and added 2.50% over last one year. SBI Life Insuran, down 1.16%, led the losers followed by Shriram Finance, easing 0.84% and Max Financial, losing 0.74%, respectively. Out of 20 index constituents, 16 are reporting loss today.

In NIFTY500, Tejas Networks is the top gainer today, surging 9.72% to Rs 560.50. The counter has retreated 13.34% in last one year. It recorded an average volume quantity of 46794 in last five sessions compared to 88407.71 over last one month.

Asian markets climbed on Friday. China’s Shanghai composite is up 0.08%, Hong Kong’s Hang Seng is slightly higher by 0.37%. Japan’s Nikkei 225 is higher by 0.83%.