MARKET UPDATE:Sensex climbed 206 pts to 38,640 levels, Nifty topped 11,400-mark


Published On: Monday, August 24, 2020 | By:

MARKET UPDATE:Sensex climbed 206 pts to 38,640 levels, Nifty topped 11,400-mark

The markets in India climbed half a percent today(24th August 2020), lifted mainly by financials. The S&P BSE Sensex rose 206 points, or 0.5 percent, to 38,640 levels and the Nifty50 index topped the 11,400-mark. Kotak Mahindra Bank gained the most 2 percent, followed by HDFC Bank, IndusInd Bank, and State Bank of India (all up 1 percent each). On the stock-specific front, Gautam Adani-led Adani Group gained 3 percent as it is set to acquire a 74 percent stake in Mumbai International Airport with the current operator settling its disputes with its minority partner and exiting the venture. The Nifty sectoral indices were largely in the green, led by the Nifty Bank index, up 1.4 percent. The broader markets continued their outperformance with the S&P BSE MidCap and SmallCap indexes ruling 0.6 percent and 1 percent higher, respectively.

Fifty-three companies, including LIC Housing Finance, IRB Infrastructure Developers, and Nocil are scheduled to report their quarterly earnings today.

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