Bulls maintained their firm grip on Dalal Street, with front-line indices extending their winning streak to a fifth straight session on Wednesday, August 20, as positive domestic cues helped sustain momentum despite lingering tariff tensions.
The Nifty 50 closed the session above the 25,000 mark at 25,037, gaining 0.23%, while the S&P BSE Sensex advanced 0.26% to 81,857 points, edging closer to the 82,000 level. The broader markets also maintained their winning trend, with the Nifty Midcap 100 and Nifty Smallcap 100 each gaining up to 0.4%.
Sector-wise, Nifty IT emerged as the top performer, rallying 2.70%, followed by Nifty FMCG, Nifty Realty, and Nifty Metal, which gained 1.39%, 1.06%, and 0.43%, respectively. On the losing side, Nifty Media was the top laggard as investors engaged in profit booking after a stellar rally, causing the index to drop 1.98%. Nifty Pharma also ended the session lower by 0.44%.
Investors will be watching for cues on rate cuts from Powell’s upcoming speech, which is seen as the market’s main event, as traders look for any pushback against expectations of a rate cut at the Fed’s September 16–17 meeting.
Currently, traders are pricing in about an 85% chance of a quarter-point cut next month and expect around 54 basis points of reductions by year-end
Powell has stated he is reluctant to cut rates due to anticipated price pressures from tariffs this summer. Later in the day, the Fed will also release the minutes of its July 29–30 meeting, when rates were held steady, though they may offer limited insight as the meeting preceded the weak jobs data.
Over 35 Nifty 500 stocks surge between 3–19%, with Ola leading the way
Ola Electric shares extended their stellar bull run for the second straight session, jumping another 19% to ₹53.2 apiece on the back of multiple block deals. Carborundum Universal was the second top gainer in the Nifty 500 pack, advancing 13.8% to ₹990.3.
After being under pressure in recent trading sessions, Godfrey Phillips India staged a strong comeback, with shares rallying 12.6% to ₹11,041. Intellect Design Arena, Aegis Logistics, and Rashtriya Chemicals also surged up to 8%.
Meanwhile, Swan Energy extended its winning run for the second straight session, gaining 4.5% to settle at a two-week high of ₹455.55, while Reliance Power shares were locked in the 5% upper circuit limit at ₹47.71 for the second day in a row.
Sundaram Finance, Lemon Tree Hotels, Westlife Foodworld, Honasa Consumer, Chalet Hotels, Latent View Analytics, Sonata Software, EIH, Neuland Laboratories, Indian Hotels Company, and Emami also witnessed strong buying interest, each ending with gains of over 4%. Overall, 36 stocks from the Nifty 500 pack closed the session with gains above 3%.
