This marks the 12th consecutive session of gains for the Nifty 50 and the third consecutive month of growth for both indices. The Sensex closed 231 points higher at 82,365.77, while the Nifty 50 ended 84 points up at 25,235.90.
Both indices reached their highest-ever closing values, demonstrating strong investor confidence amid positive global cues.
The broader market also showed strength, with the BSE Midcap and Smallcap indices outperforming the benchmarks. The Midcap index rose by 0.50%, while the Smallcap index climbed 0.73%, indicating that investors are increasingly looking beyond the large-cap stocks.
Overall market capitalization on the BSE surged to a record near ₹464.4 lakh crore, an increase of nearly ₹2 lakh crore in just one session.
Impact on the stock market
Sectoral indices, the majority were in the green. Realty, Pharma, and Healthcare sectors led the charge, each gaining over 1%. The FMCG index was the only sector that lagged, weighed down by declines in stocks like ITC, Marico, and Dabur.
However, the Nifty IT index maintained its winning streak with a 0.5% gain, marking five consecutive sessions of growth. The Nifty Auto index also performed well, rising 0.6%, with investors eyeing upcoming August sales figures.
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| Sector/Index | Performance |
| IT & BPM sector | +0.46% |
| Healthcare sector | +1.35% |
| Oil & Gas sector | +0.30% |
| Real estate sector | +1.83% |
| PSU Bank in India | +0.30% |
Top gainers today
| Company | Price | Change (%) |
| Cipla Share Price | 1,654.90 | +2.25 |
| Bajaj Finance Share Price | 7,200.15 | +1.93 |
| M&M Share Price | 2,805.40 | +1.73 |
| Divis Labs Share Price | 5,093.90 | +1.62 |
| Bajaj Finserv Share Price | 1,783.05 | +1.56 |
Top losers today
| Company | Price | Change (%) |
| Tata Motors Share Price | 1,111.35 | -0.92 |
| Reliance Share Price | 3,019.25 | -0.74 |
| Tech Mahindra Share Price | 1,636.50 | -0.66 |
| ITC Share Price | 501.90 | -0.63 |
| Coal India Share Price | 524.95 | -0.49 |
Market aftermath: Impact on stocks
Natco Pharma rises 4% after filing ANDA for lung cancer drug
Natco Pharma’s stock initially surged 4.6% after announcing its ANDA filing for a generic lung cancer drug but later fell 3.51% due to broader market corrections. The filing positions Natco as the first to submit for this product, potentially granting it 180 days of market exclusivity upon approval.
This strategic move, coupled with Natco’s strong Q1FY25 performance, could significantly boost its future revenue.
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Prestige Estates up 6% on ₹ 5,000 crore QIP
Prestige Estates shares rose over 6% following the announcement of a ₹ 5,000 crore QIP at a floor price of ₹ 1,755.09 per share. The QIP, leading to a 7.45% equity dilution, comes after a 50.25% rise in the stock over the last six months.
Investors are optimistic that the funds will be used for expansion and debt reduction, reinforcing the company’s growth trajectory.
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SpiceJet drops 7% as DGCA enhances airline surveillance
SpiceJet’s stock dropped nearly 7% after the DGCA placed the airline under enhanced surveillance due to operational safety concerns. The decline was further fueled by the cancellation of flights from Dubai due to unpaid dues.
The increased scrutiny and financial stress raise serious concerns about the airline’s stability, leading to a sharp fall in its share price.
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Crude oil price decline
Crude oil prices saw a sharp rise due to supply disruptions in Libya and plans to reduce output in Iraq. Brent crude futures increased by 1.4% to $79.72 per barrel, while crude was up 1.8% to $75.85 per barrel.
These developments have raised concerns about tightening supply in the global market, with domestic crude oil futures also trading higher by 1.24% at ₹6,366 per barrel on the Multi Commodity Exchange (MCX).
Conclusion
August 30, was a day of contrasts in the Indian stock market. While major indices hit record highs and sectors like Pharma and Realty saw strong performances, companies like SpiceJet struggled under regulatory pressures. The rise in crude oil prices adds another layer of complexity to the market, particularly for sectors sensitive to energy costs.
As we move into, investors will be closely watching for further developments, particularly in the context of global oil supply and ongoing corporate earnings reports. The resilience of the Indian stock market amid global uncertainties continues to be a key theme, offering both opportunities and challenges for investors.
Stay tuned on StockGro for more updates on market trends.
