Ira Singh 
The domestic share market indices, Sensex and Nifty, ended on a positive note on Thursday, driven by gains in information technology stocks, following the Federal Reserve's meeting minutes, which suggested a likely rate cut by the U.S. central bank next month.At close, Sensex was up 147.89 points or 0.18 percent at 81,053.19, and the Nifty was up 41.30 points or 0.17 percent at 24,811.50.The Nifty Information Technology index touched fresh high of 41,834 but ended marginally in red at 41,506.20, according to information.
Grasim Industries, Tata Consumer Products, Tata Steel, Bharti Airtel and Apollo Hospitals were the top gainers on the Nifty, while losers included Tata Motors, Dr Reddy's Labs, NTPC, Wipro and M&M.
On the sectoral front, power index was down one percent, while pharma, oil & gas, auto, IT ended marginally lower. On the other hand, bank, FMCG, metal, realty, telecom indexes were up 0.5-1.4 percent.
Rupee Close:
On 22 Aug'24,the Indian rupee traded in a narrow range and settled lower by 4 paise at 83.94 against the American currency on Thursday, as relentless dollar demand from importers and relentless foreign fund outflows dampened investor sentiments. However, a positive trend in domestic equities and lower global crude oil prices supported the domestic currency and restricted its fall, forex traders said.
Trading Guide:
The domestic market witnessed modest gains owing to the positive global sentiments. Particularly, the recent signs of weakness in the US non-farm payroll data have strengthened the case for potential interest rate cuts in September. However, in the broader market, investors are being cautious, opting for a selective approach, awaiting more clarity from central bank leaders in Japan and the US,Vinod Nair, Head of Research, Geojit Financial Services, reportedly quoted as saying.
Market experts have recommended buying these five shares: Suven Pharmaceuticals, Rupa, Swan Energy, Chennai Petroleum Corporation, and Deepak Fertilisers.
(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)
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