Benchmark Indian equity indices snapped their seven-day losing streak and finished higher on Thursday, August 20, as markets found much-needed relief after the US Treasury stepped in to contain the surge in global bond yields, triggering a strong, broad-based rebound and ending the domestic market’s week-long losing streak.
The NSE Nifty50 ended 153.55 points, or 0.64%, higher at 24,231.85, while the BSE Sensex settled at 77,537.72, up 628.04 points, or 0.82%, from the previous close.
Among broader market indices, the Nifty Midcap 100 and Nifty Smallcap 100 indices finished lower by 0.41% and 0.68%, respectively.
Among the sectors, Nifty Realty jumped over 1%, while Nifty PSU Bank slipped into the red. Overall market breadth turned sharply positive, with the NSE seeing 2,108 advances against 1,405 declines, while 119 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
The Nifty delivered the anticipated rebound from the psychologically important 24,000 support level, closing at 24,213.75. More importantly, the index held on to its gap-up gains through the close—a notable improvement after failing to register a convincingly strong close since the introduction of the Closing Auction Session (CAS) on August 3.
For the next session, immediate support is placed at 24,100, followed by 24,000, while resistance is seen at 24,300 and 24,575, said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
The preferred strategy, he said, remains to buy on dips in the 24,100–24,000 zone with a stop-loss below 24,000.
“The unfilled gap between 23,890 and 23,820 remains relevant only if the index decisively breaks below the 24,000 support,” said Radhakrishnan.
