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News Topical, Digital Desk : The Indian stock markets witnessed a tremendous surge on Monday, August 18. The effect of this pace was also seen on capital market stocks, where many stocks rose up to 5%.
What happened in the market today Sensex and Nifty surged: PM Modi said in his Independence Day speech that the next generation GST reforms will be announced by Diwali. After this, the Sensex rose by 1,000 points and the Nifty crossed 25,000.
Impact of S&P upgrade: On August 14, S&P Global raised India's credit rating from 'BBB-' to 'BBB'. After this, the ratings of the top 10 financial institutions were also upgraded. This further increased the confidence of investors.
Which stocks shone- Top gainers: Anand Rathi Wealth jumped up to 5% and the stock reached ₹ 2,839. AMC stocks: HDFC AMC and NAM-India rose up to 4%. Exchange stocks: MCX and UTI AMC gained 2%, while CDSL, Angel One and BSE rose more than 1%. Others: Motilal Oswal, CAMS, 360 One WAM and IEX gained up to 1%. Nuvama and KFintech stocks remained under pressure in this wave of gains and fell by about 1%. Overall, S&P upgrade + hopes of GST reforms breathed new life into capital market stocks.
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