What is the story about?
The Indian stock market on August 12th saw an interesting mix of gains and losses. From IPO launches to sector-specific performances, here's a quick snapshot.
IPO Mania Unfolds
August 12th saw the debut of Highway Infra, listing with a whopping 67% premium and hitting the upper circuit. Regaal Resources also launched its IPO, aiming to double capacity with ₹430 crore. Analysts suggest long-term investment for Regaal Resources, signaling confidence in the market's growth.
Sectoral Performance Insights
The market exhibited a mixed bag with auto, media, and PSU bank stocks showing gains. However, realty stocks faced headwinds. Praj Industries hit a 52-week low, dropping 54% from its January high. L&T extended its rally due to an order from Adani Power, with brokerages predicting further growth.
Banks & Trading Strategies
Five PSU bank stocks were scrutinized on technical charts, highlighting the overbought or oversold conditions. For crude oil trading, key levels were examined to establish strategic moves. These trends provided valuable insights for the traders on that day.
Market Close Highlights
The Sensex gained 746 points and Nifty reached 24,585 at the end of the day. Auto, PSU bank, and realty stocks led the charge during the market close. Yatra saw a jump of 14%, demonstrating strong market interest in specific stocks. These key highlights gave investors a clear picture.
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