Sensex, Nifty End Flat Amid Volatility; Apollo Hospitals, IndusInd Bank Top Gainers

Wed, 24 Aug Closing

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It was a volatile trading session for Indian share markets today. After opening the day on a positive note, Indian share markets traded in a range throughout the day and ended on a flat note.

Benchmark indices turned volatile in the afternoon session but most of the losses were recovered in the last hour of trade as realty stocks rallied.

At the closing bell, the BSE Sensex stood higher by 54 points.

Meanwhile, the NSE Nifty closed higher by 27 points.

Apollo Hospital, IndusInd Bank, and ONGC were among the top gainers today.

BPCL, Divis Lab, and Tata Steel on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,616, up by 8 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended up by 0.8% while the BSE Smallcap index ended higher by 0.7%.

Sectoral indices ended on a mixed note with stocks in the realty sector and telecom sector witnessing maximum buying.

On the other hand, stocks in the IT and oil & gas sector witnessed selling interest.

Shares of Lakshmi Machine, SKF India, and Adani Transmission hit their 52-week highs today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

CAMS share price was in focus today as it rose following a steep fall in recent days.

Reliance, Bharti Airtel, and HDFC Bank were among the most active shares on the BSE today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian stock markets ended on a negative note. The Nikkei ended the day lower by 0.5%, while the Hang Seng inched lower by 1.2%. The Shanghai Composite ended 1.9% lower.

The rupee is trading at 79.8 against the US$.

Gold prices for the latest contract on MCX are trades flat at Rs 51,410 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.1% at Rs 55,150 per kg.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

Speaking of stock markets, Research analyst at Equitymaster Rahul Shah talks about the portfolio that went up 9x in 10 years, in his latest video.

Speaking of the stock market, at times when share market has been consistently inconsistent, it becomes increasingly difficult to predict the price pattern of any share.

Hence, it becomes important to have a system in place where in your investments and returns both, can also be regularized. This can be done by Systematic Investment Plans (SIP).

Rahul Shah - Editor and Co-head of Research at Equitymaster, explained how SIP would benefit an investor, if the investor invests in SIPs in the bull market.

He showed through the following chart how returns would have progressed if an investor would have held on to investment in SIP for a period of 15-18 months.

For more details, read the entire editorial: How to Earn 15% Returns Even if the Market is at All-Time Highs.

In news from the airlines sector, share price of SpiceJet gained 3% intraday today.

The Indian carrier company today announced that it is looking to raise funds. It is looking for investments from third parties including airlines and has also planned to add seven more boeing aircraft to its fleet.

In recent months, the company has faced turbulence, especially with many of its flights suffering technical snags and subsequently, the airline faced actions from the aviation regulator Directorate General of Civil Aviation (DGCA).

Commenting on the boeing aircraft, Ajay Singh, Chairman of SpiceJet said:

We are doing it by way of the government-supported scheme ECLGS, getting new aircraft from Boeing and therefore through the SLB process, exploring options for fundraise... we are exploring all options.

As per reports, the budget carrier is also tapping a government program that extends emergency credit lines to businesses hit by the pandemic.

Besides, the board of private carrier SpiceJet will be meeting on 31 August to consider and approve the financial results of June quarter 2022.

For more details, check out SpiceJet's financial fact sheet and quarterly results.

Moving on to news from the IPO space, DreamFolks IPO was oversubscribed on the first day.

Airport service aggregator DreamFolks Services IPO opened today with the issue size of Rs 5,621 m. The price band of the issue being Rs 308- Rs 326 apiece. It is a three-day IPO to close on Friday, 26 August 2022.

The issue received strong response as it was fully subscribed .

DreamFolks Services is a dominant player and India's largest airport service aggregator platform, an incubator of the industry with its unique, asset-light, capital-efficient business model.

DreamFolks carefully crafted a service proposition and a tech platform to provide its clients (such as card network providers, banks, airline operators, and hotels) the option of offering a wide-ranging bouquet of services to their end customers.

Dreamfolks Services shares are available at a premium (GMP) of Rs 62 in the grey market today.

And 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!

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers