FINAL TRADE: Indices end higher; Sensex gains 213 pts; Nifty settles at 19,444

Stock market today: The Indian share market closed higher on Wednesday, August 23, owing to banking and financial services stocks. The Reserve Bank of India's (RBI) policy meeting minutes and updates from a key global central bankers' gathering will be on market participants' radar. Globally, the US will release its manufacturing PMI later in the day.

At close, both indices stood over 0.25 per cent higher. The S&P BSE Sensex was up 213.27 points, or 0.33 per cent, at 65,433.3, and the NSE Nifty was up 47.55 points or 0.25 per cent at 19,444.

The Nifty Mid Cap 100 and Small Cap 100 ended in the green, up by 0.39 per cent and 0.91 per cent, respectively.

On the sectoral front, Nifty Bank ended 1.10 per cent higher at 44,479.05.

TECHNICAL VIEW 

"Overall, we shall continue to maintain our negative outlook on the index, though a pullback is likely over the next few trading sessions. Crucial support is placed at 19,370–19,350, while immediate hurdles are placed at 19,520–19,550," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

The analyst added that the Bank Nifty has witnessed a sharp pullback. On account of the rise, it is now very close to 44,600–44,700, where resistance in the form of 20 and 40-day moving averages is placed, which is likely to restrict a further sharp up-move. The Bank Nifty is in pullback mode. It is taking support from the positive crossover on the daily momentum indicator.

NIFTY STOCKS 

Hindalco, Axis Bank, ICICI Bank, Divi's Laboratories, and L&T were the major gainers. On the flip side, Adani Enterprises, Jio Financial, Adani Ports, Sun Pharma, and Tech Mahindra were the top laggards.

BUZZING STOCKS 

Brightcom Group stock touched its lower circuit after SEBI barred the company's CEO and CFO from managerial posts.

Jio Financial Services' stock touched its lower circuit three days in a row after its listing. 

Conversely, Vodafone Idea shares ended over 1 per cent higher as the company announced plans to clear about Rs 2,400 crore of dues to the government by September.

Linde India's shares closed over 2 per cent higher as the company got a Letter of Acceptance (LoA) for order from Indian Oil Corporation Limited.

Dredging Corporation stock settled over 6 per cent higher a day after posting strong Q1 results.

GLOBAL MARKETS 

Global markets were trading mixed Wednesday ahead of Federal Reserve Chair Jerome Powell's highly anticipated speech later in the week.

France's CAC 40 edged up 0.3 per cent in early trading to 7,261.76. Germany's DAX added 0.3 per cent to 15,753.86.

Britain's FTSE 100 rose 0.5 per cent to 7,309.13. US shares were set to drift higher, with Dow futures up 0.3 per cent at 34,444.00. S and P 500 futures gained 0.4 per cent to 4,418.00.

(With agency inputs.)

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