Indian stock markets displayed strong momentum in afternoon trading on Monday, August 26, 2024, with both benchmark indices posting significant gains.
As of 1:15 PM, the Nifty 50 index was up 208.65 points or 0.84% at 25,031.80, while the BSE Sensex climbed 704.02 points or 0.87% to 81,790.23.
The market breadth remained positive, with 2,263 stocks advancing and 1,705 declining on the BSE. A total of 4,124 stocks were traded, with 156 remaining unchanged.
Notably, 376 stocks hit their 52-week highs, while only 21 touched their 52-week lows.
JM Financial emerged as the top gainer on the BSE, surging 12.21% to ₹102.95. Other significant gainers included Caplin Point Laboratories (up 9.45% to ₹1,910.05), Gujarat State Petronet Limited (up 9.28% to ₹369.85), Craftsman Automation (up 9.02% to ₹6,433.00), and BLS International Services (up 8.94% to ₹432.65).
On the flip side, Zydus Lifesciences led the losers, dropping 5.42% to ₹1,114.80. Reliance Power declined 4.99% to ₹32.73, followed by PG Electroplast (down 4.17% to ₹534.60), Religare Enterprises (down 3.77% to ₹261.50), and Orient Cement (down 3.74% to ₹318.75).
Several stocks hit their 52-week highs on the National Stock Exchange, including Honasa Consumer (up 12.25%), Caplin Point Laboratories (up 9.54%), Motilal Oswal Financial Services (up 7.52%), Edelweiss Financial Services (up 6.60%), and Shilpa Medicare (up 6.04%).
The market showed signs of broad-based participation, with 424 stocks hitting the upper circuit and 250 touching the lower circuit on the BSE. The positive sentiment was reflected in both large-cap and mid-cap segments, contributing to the overall market rally.
As the trading session progresses, investors and analysts will be closely monitoring the market dynamics for potential shifts in momentum and sector-specific movements ahead of the closing bell.