Market wrap: Tata Steel, HCL Tech, Bajaj Finance, Adani Ports top gainers and losers on Nifty and Sensex on Monday

The Indian equity markets erased all early gains to finish the week’s first trading session on a lower note, with benchmark indices BSE Sensex and NSE Nifty dropping around 0.2% each on Monday, August 24.

The Sensex fell 172 points or 0.22% to close at 77,369, while the Nifty 50 declined 33 points or 0.13% to end the session at 24,219.

Broader markets were mixed. The Nifty Smallcap 100 closed 0.3% lower, while the Nifty Midcap 100 ended marginally higher. Among sectoral indices, the Nifty PSU Bank index declined around 1% to lead the losses, while the Nifty Metal index surged 1.6%.


Market breadth on the NSE turned negative, with 1,820 stocks declining against 1,740 advances, while 113 stocks remained unchanged.

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Here are today’s top gainers on the Nifty

Here are today’s top gainers on the Sensex

Here are today’s top losers on the Nifty

Here are today’s top losers on the Sensex

Technical View

From a technical perspective, the 24,300 level remains a crucial resistance zone for the Nifty, according to Ponmudi R, CEO of Enrich Money.

A decisive and sustained breakout above 24,300 would be important to improve the technical setup and could pave the way for the index to move towards 24,400–24,500, he said.

“On the downside, 24,145, which closely corresponds with the session low, remains the immediate support. A decisive break below this level could intensify selling pressure and expose the index to the 24,000 psychological support zone,” said Ponmudi.

Momentum indicators remain weak, with the RSI around 46 and below the neutral 50 mark, indicating subdued momentum. The MACD also remains bearish, with the MACD line below the signal line and the histogram in negative territory, suggesting that underlying momentum has yet to turn positive.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)