Stock Market Live Updates 20 August 2024: Sensex, Nifty trade higher; Nifty IT index gains over 1%

Sensex, Nifty, Share Prices LIVE: Indian benchmark indices, Sensex and Nifty, opened on a positive note on Tuesday. As of 10 a.m., the Sensex is up by 388.17 points, trading at 80,812.85, while the Nifty has risen 118.30 points to 24,690.95. The continued bullish momentum in US stocks drives this uptick. However, analysts expect the market to remain in a consolidation phase due to the absence of significant domestic triggers. Stock-specific and sector rotation activities are likely to dominate, with profit-taking anticipated at higher levels. Attention is now on Federal Reserve Chair Jerome Powell’s upcoming speech at the Jackson Hole Economic Policy Symposium, which could provide critical insights into future interest rate policies. Technically, Nifty is showing signs of fatigue, as it failed to close with gains on Monday. The daily RSI hovering around 45 indicates weakness and a move below the 50 DMA near 24,000 could push the index towards 23,800. India VIX also rose, signalling increased market volatility.