Top gainers, losers today: Asian Paints, IndusInd Bank, Infosys, Power Grid, Reliance Industries; check full list
Reliance Industries and HDFC Bank, ahead of the release of Reserve Bank of India (RBI) minutes of the Monetary Policy Committee (MPC) meeting today as well as annual central bank summit in Jackson Hole, Wyoming, on Friday. Officials of the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan are meeting in Jackson Hole, Wyoming, for their yearly conference on central banking. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.
The US market exhibited a positive trend as declining US PMI ignited hopes of a prolonged rate pause, calming US bond yields. Optimism in the domestic market was more visible in the IT sector, though sentiments were reversed in other major sectors, likely influenced by the prevailing global uncertainties,'' said Vinod Nair, Head of Research at Geojit Financial Services. Sensex closed 181 points, or 0.28 per cent, lower at 65,252.34 while the Nifty closed the day at 19,386.70, down 57 points, or 0.29 per cent.
Mid and smallcaps, however, outperformed the benchmark index. The BSE Midcap index rose 0.11 per cent while the Smallcap index clocked a gain of 0.21 per cent. Sectorially it was a mixed bag with buying seen in IT, realty, FMCG and banking space.
Railway stocks were in momentum on account of the strong order book and rising allocation in the rail infrastructure by the government. Analysts said the outperformance of mid- and small-caps over the blue-chips in 2023 was driven by robust retail inflows and hopes of near-term returns. The RBI MPC policy meeting minutes is scheduled to be released at 5 pm today.
Read more on livemint.com
