niftify.in

Business Line

Paints

Wed, Sep 4, 2024

Share Market Highlights 4 September 2024: Markets close mixed as Nifty touches new high amid sector rotations

Sensex, Nifty updates on 4 September 2024: Indian stock markets ended Wednesday’s session with mixed results, as the Nifty 50 index briefly touched a new all-time high before retreating due to profit-taking in the final hour. The BSE Sensex closed down 202.80 points or 0.25 per cent at 82,352.64, while the Nifty 50 fell 81.15 points or 0.32 per cent to 25,198.70, breaking a 14-day winning streak. The day’s trading was characterized by volatility, with the Nifty opening lower at 25,089.95 but recovering throughout the session. Sector-wise performance was mixed, with pharma, realty, and FMCG sectors seeing gains, while IT and metal sectors faced profit-taking. Srikant Chouhan, Head of Equity Research at Kotak Securities, commented on the market’s performance, saying, “Today, on the backdrop of weak global sentiment benchmark indices witnessed profit booking at higher levels... Technically, post gap down opening market registered a pullback rally. From the day, lowest point market recover over 130/550 points.” Among the top gainers on the NSE were Asian Paints (2.50 per cent), Grasim (1.91 per cent), Hindustan Unilever (1.71 per cent), Ultratech (1.23 per cent), and Sun Pharma (1.19 per cent). The top losers included Wipro (-3.06 per cent), Coal India (-2.81 per cent), ONGC (-2.27 per cent), Hindalco (-1.90 per cent), and LTIMindtree (-1.15 per cent).