1 week ago
Sensex Surges 650 Points as Nifty Reclaims 24,200
India’s main stock markets had a strong day on Thursday, August 20.
The Sensex climbed by more than 650 points.
The Nifty 50 also rose by over 150 points.
This ended a seven-day period when the markets had been falling.
Investors felt more confident because global market sentiment improved.
US bond yields became softer, which also supported the rally.
Some investors bought shares to close earlier bets that prices would fall, a process called short-covering.
Mid-sized and smaller companies’ stock indexes also gained.
The Sensex rose more than 650 points on Thursday, August 20, moving above 77,500.
The Nifty 50 gained over 150 points and traded near 24,250.
The rally ended a seven-day losing streak for India’s benchmark indices.
Improved global sentiment and softer US bond yields encouraged investors to return to equities.
The Nifty Midcap 100 and Nifty Smallcap 100 each gained more than half a per cent.
- Who
- Indian stock-market investors and the Sensex, Nifty 50, Nifty Midcap 100, and Nifty Smallcap 100 indexes.
- What
- Indian benchmark stock indexes staged a strong recovery, ending a seven-day losing streak.
- Where
- The Indian stock market.
- When
- Thursday, August 20.
- Why
- Improved global sentiment, softer US bond yields, and short-covering encouraged investors to return to equities.
Key facts
- Sensex move
- Rose more than 650 points
- Sensex level
- Moved above 77,500
- Nifty 50 move
- Advanced over 150 points
- Nifty 50 level
- Traded close to 24,250
- Losing streak
- The rally ended a seven-day decline
- Broader market
- The Nifty Midcap 100 and Nifty Smallcap 100 each gained more than half a per cent
- Key drivers
- Improved global sentiment, softer US bond yields, and short-covering
Sources
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