Taking Stock: Market rally continues for 6th day; Nifty fails to hold 25,100

About this update from Concord Biotech Ltd.

Indian benchmark indices continued their gaining momentum for sixth consecutive day on August 21, but Nifty index failed to hold 25,100 amid profit booking at higher levels.The investors are now awaiting data on US Jobless Claims, Manufacturing PMI data and also Jackson Hole Symposium outcome.At close, the Sensex was up 142.87 points or 0.17 percent at 82,000.71, and the Nifty was up 33.20 points or 0.13 percent at 25,083.75.Also Read: Trump tariffs, valuations and earnings drag foreign ownership of Indian equities to a seven-month low in AugustBiggest Nifty gainers were Dr Reddy's Laboratories, Cipla, Bajaj Finserv, ICICI Bank, SBI Life Insurance, while losers were Bajaj Auto, Coal India, Power Grid Corporation, Eternal, Tata Consumer Products.On the sectoral front, pharma index rose 1%, realty index added 0.4% each, while auto index shed 0.3% and FMCG index declined 0.6%.The BSE midcap and smallcap indices ended on flat note.Also Read: Need to increase tenure of equity derivatives, says Sebi chairman, consultation paper comingIn stock-specific action, Jupiter Wagons shares rose 3% as arm got LoI worth Rs 215 crore, Kaveri Seeds share price added 5.7% after IIFL upgraded rating to 'add' from 'sell' with target at Rs 1,140, Nazara Technologies shares were down to their lowest level in 15 weeks, Ola Electric Mobility slipped 8.5% after 0.4% equity changed hands in nine blocks.India Cements share price added 6% as UltraTech Cement to going sell 6.49% stake via OFS, Clean Science share price down 3% after 20% equity change hands in a block, Concord Biotech share price rose 3% after EU GMP completed its first inspection at Limbasi API facility.More than 120 stocks touched their 52-week highs on the BSE, including KIOCL, Lemon Tree, India Cements, JM Financial, L&T Finance, Sai Life Sciences, Nippon Life India Asset Management, Asahi India, Apollo Hospitals, HDFC AMC, UltraTech Cement, Godfrey Phillips, Fortis Healthcare, Marico, among others. Click to View MoreOutlook for August 22Rupak De, Senior Technical Analyst at LKP SecuritiesThe Nifty traded in a narrow range of 25,050–25,150 throughout the day, reflecting limited volatility. Sentiment remains positive, with the index comfortably holding above the short-term moving average.The daily RSI is in a bullish crossover and trending higher. On the downside, support is placed at 24,800; as long as this level ho...

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