On August 23, 2024, Indian equity markets opened on a positive note but quickly lost momentum, with both the BSE Sensex and NSE Nifty trading lower by mid-day. The Sensex fell by 117.82 points to 80,935.37, while the Nifty dropped 34.55 points to 24,776.95.
Key Factors Influencing Market Movement
The initial gains were driven by optimism, but selling pressure, particularly in IT stocks, contributed to the decline. Investors are closely monitoring global cues, especially anticipating comments from U.S. Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium. Analysts expect Powell to provide insights into potential interest rate cuts, which could influence market sentiment.
Sector Performance
Among the Sensex constituents, major laggards included Infosys, Tata Steel, and Tata Consultancy Services. Conversely, stocks like Tata Motors and Reliance Industries showed resilience, contributing positively to the indices.
Global Market Context
Asian markets displayed mixed trends, with Tokyo and Shanghai trading higher, while Hong Kong and Seoul faced declines. The muted performance in global markets, including a dip in U.S. stocks the previous day, added to the cautious sentiment among investors.
As the day progresses, market participants remain vigilant, looking for further developments that could sway trading directions, particularly in light of global economic indicators and central bank policies.
from Stock Market Today: Sensex, Nifty, BSE, NSE Latest Updates | The Hindu https://ift.tt/6MjGDqS
