Nifty and Sensex Edge Higher in Quiet Trading Session
By ScanX News Team
Indian stock markets closed marginally higher on August 7, with Nifty 50 up 0.09% at 24,574.20 and Sensex gaining 0.10% to 80,543.99. Leisure Services, Utilities, and Insurance sectors outperformed, while Printing & Stationery, Cables, and Logistics sectors underperformed. Notable stocks included Mankind Pharma, Bajaj Auto, and Pidilite Industries. Market breadth was negative with 2,480 declining stocks versus 1,905 advancing.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Indices Close Marginally Up on August 7
The Indian stock markets ended marginally higher on Thursday, with both benchmark indices closing in the green after a relatively quiet trading session.
Market Overview
The NSE Nifty 50 index closed at 24,574.20, up 21.95 points or 0.09%. The BSE Sensex ended the day at 80,543.99, gaining 79.27 points or 0.10%.
Key stats for the day:
| Index | Closing Price | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,574.20 | +21.95 | +0.09% |
| Sensex | 80,543.99 | +79.27 | +0.10% |
Sectoral Performance
Top Performing Sectors
- Leisure Services (+0.72%)
- Utilities (+0.71%)
- Insurance (+0.46%)
Underperforming Sectors
- Printing & Stationery (-3.47%)
- Cables (-2.29%)
- Logistics & Cargo (-1.34%)
Buzzing Stocks
Mankind Pharma: Reported strong Q1 results with 25% YoY revenue growth to Rs 3,570.00 crores. However, PAT declined 17.4% due to higher costs related to recent acquisitions.
Bajaj Auto: Announced entry into the e-rickshaw market with its new brand 'Riki'. The company also plans to develop electric motorcycles under its Boxer and Pulsar brands.
Pidilite Industries: Posted 10.6% growth in Q1 consolidated net sales to Rs 3,742.00 crore. The company announced a 1:1 bonus share issue and a special interim dividend of Rs 10.00 per share.
Escorts Kubota: Successfully overturned GST penalties totaling Rs 20.28 lakh that were imposed due to clerical errors.
Jubilant Ingrevia: Reported a 54% YoY increase in Q1 PAT to Rs 75.00 crore, driven by strong performance in the Specialty Chemicals segment.
Coal India: Implemented a policy change allowing thermal power plants using CIL's linkage coal to sell surplus power in open markets.
Adani Power: Received approval to construct a 2,400 MW ultra-supercritical thermal power plant in Bihar with an investment of approximately $3.00 billion.
Market Breadth
The overall market breadth was negative, with more stocks declining than advancing:
| Category | Number of Stocks |
|---|---|
| Advances | 1,905 |
| Declines | 2,480 |
| Unchanged | 0 |
| Total | 4,385 |
Conclusion
The Indian stock markets closed with marginal gains on August 7, despite a negative market breadth. While key indices edged higher, sector-specific movements were mixed, with Leisure Services, Utilities, and Insurance outperforming, while Printing & Stationery, Cables, and Logistics sectors faced pressure.
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