Sensex Today Ends 378 Points Higher | Nifty Above 24,650 | Angel One Rallies 15%

Tue, 20 Aug Closing

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After opening the day on the higher, Indian benchmark indices continued the trend as the session progressed but ended the day higher.

Benchmark indices maintained their winning ways on Tuesday aided by a strong rally in financial and information technology (IT) shares.

At the closing bell, the BSE Sensex stood higher by 378 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 100 point up (0.4%).

HDFC Life, Bajaj Finserv and Shriram Finance among the top gainers today.

ONGC, Bharti Airtel and Cipla on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,713, up by 104 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.9% higher and BSE SmallCap index ended 0.5% higher.

Sectoral indices were trading positive with socks in metal sector and power sector witnessed buying speer.

Shares of TCS, Trent and Colgate hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.79 against the US$.

Gold prices for the latest contract on MCX are trading 0.7% higher at Rs 72,063 per 10 grams.

Meanwhile, silver prices were trading 1.1% higher at Rs 85,266 per 1 kg.

Speaking of the stock market, taking some profits off the table to prepare for a market correction is never a bad idea.

Rather, at Equitymaster, we always recommend readers to ensure they have funds to buy more stocks when valuations correct.

That is precisely why Research Analyst, Tanushree Banerjee have been recommending Equitymaster subscribers to sell partial exposures in stocks that have met target prices.

Tune into below video for what should you not sell.

Why Allcargo Logistics Share Price is Rising

In news from the logistics sector, shares of Allcargo Logistics zoomed nearly 12% as investors cheered the company's healthy business update for July.

On 20 August, the stock was trading around 9% higher at Rs 66.98 on the National Stock Exchange (NSE).

In an exchange filing, the company informed that its LCL (less than container load) volume for July stood at 8.18 lakh cubic meters, a 6% month-on-month (MoM) increase and a 5% year-on-year (YoY) increase. The volume was similar to its highest-ever monthly volume recorded in August 2022.

Allcargo Logistics' combined surface and air express volume reached 1.08 lakh tonnes in July, marking an uptick from June 2024. This growth is attributed to early preparations for the upcoming festive season, which typically drives higher demand for logistics services.

The management anticipates continued growth as the festive season approaches, expecting this upward trend to persist.

Allcargo Logistics is a multinational company engaged in providing integrated logistics solutions and offers specialised logistics services across multimodal transport operations, inland container depot, and container freight station operations.

Nucleus Software Hits Upper Circuit

Moving on to news from the IT sector, shares of Nucleus Software Exports were locked in 20% upper circuit at Rs 1,411 apiece on August 20 as the company plans to mull the buyback of its equity shares two days later. This will be the third buyback, if approved, for Nucleus after 2017 and 2021.

The buyback offer could either be done via the tender offer route or open market value. A share buyback benefits the company by reducing the number of outstanding shares, thereby, increasing the earnings per share or share price of the company. Additionally, it helps improve the financial ratios of the company like return on equity (RoE) or return on asset (RoA).

The last buyback by Nucleus Software was done in 2021 at Rs 700 per share. Since then, the stock has risen over 69%. However, the stock of this IT services company has declined nearly 4% so far this year, underperforming benchmark Nifty 50's 12% rise.

The order book position is Rs 8.1 bn, including Rs 7.5 bn of product business and Rs 612 m of project and services business.

Going ahead, the management expects to recover strongly in upcoming quarters.

Sunlite Recycling Industries Lits at 90% Premium

Moving on, shares of Sunlite Recycling Industries made a robust start on its stock market debut on 20 August after its shares got listed at Rs 199.5 apiece, a premium of 90% over the issue price of Rs 105 on the NSE SME platform.

The listing gains beat grey market estimates where shares were trading at a premium of over 75%.

The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.

The Rs 302.4 m public offer, which is a fresh issue of 2.9 m shares, received robust investor interest as the issue was subscribed a massive 282 times. Non-institutional investors or high-networth individuals were at the forefront, buying 584 times their allotted quota.

Retail investors followed, purchasing over 250 times. QIBs, also known as qualified institutional buyers, had bid for over 100 times the portion reserved for them.

Established in 2012, Sunlite Recycling specialises in manufacturing copper rods, wires, earthing wires, earthing strips, conductors, and wire rods by recycling copper scrap.

These products cater to the power generation, transmission, distribution, and electronics industries.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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