The Sensex saw 39 stocks close higher today on Tuesday, August 20, boosted by heavyweights like HDFC Bank and Reliance Industries. The Nifty IT index hit a new high with positive global cues, propelling IT stocks forward.

Led by heavyweight stocks, the Sensex surged by 378 points to reach 80,803, while the Nifty 50 reclaimed the 24,700 mark. Positive global cues helped push IT stocks higher, propelling the Nifty IT index to a record high.

SBI Life surged 5%, and HDFC Life gained 3%, reversing their losses on Monday. Power stocks also increased, with JSW Energy and Torrent Power rising by 8% each.

After announcing a second interim dividend, Hindustan Zinc surged 3%, while Vedanta saw a 1% gain. After Macquarie raised its price target, TCS reached a new high, closing 1% higher. Angel One and Voltas continued to gain, with Angel One rising by nearly 15% over four consecutive sessions.

Nucleus Software hit the 20% upper circuit ahead of a board meeting on a share buyback, and Allcargo Logistics closed nearly 10% higher after reporting its highest-ever monthly volumes.

Upstream companies faced losses, while oil marketing companies (OMCs) attracted buying interest due to a decline in crude oil prices.

Shipbuilding companies experienced declines, with Garden Reach and Mazagon Dock falling by 9%. Ola Electric’s stock price decreased 5%, ending a three-day winning streak.

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