FINAL TRADE: Indices end lower for the 2nd day; Sensex cracks 366 pts; Nifty ends at 19.265.8
Stock market today: Both indices closed over 0.50 per cent lower. BSE Sensex slipped 365.83 points, or 0.56 per cent, at 64,886.51, and the NSE Nifty cracked 121 points or 0.62 per cent at 19.265.8.
Stock market today: Indian benchmark indices closed in the red on Friday, August 25, tracking weakness in the global markets. Additionally, inflationary concerns flagged by the Reserve Bank of India (RBI) dented sentiment. Besides, market participants awaited with bated breath Fed Chair Jerome Powell's speech at the 2023 Jackson Hole Economic Policy Symposium, which he is scheduled to deliver later today. Furthermore, European Central Bank President Christine Lagarde is also slated to speak at the 2023 Jackson Hole Economic Policy Symposium.
Both indices closed over 0.50 per cent lower. BSE Sensex slipped 365.83 points, or 0.56 per cent, at 64,886.51, and the NSE Nifty cracked 121 points or 0.62 per cent at 19.265.8.
In the broader market, the Nifty Mid Cap 100 and Small Cap 100 ended lower.
Nifty Bank was down over half a per cent at 44,231.45.
"Both Nifty and Sensex gained around 0.1 per cent in the past week. Mid-cap and small-cap indices outperformed the large-cap index. Macro sentiments remained volatile as surging bond yields and increasing global crude prices added to the pressure. Global markets were broadly weak as global bond yields increased and concerns about Chinese growth amplified, based on weak data prints. Indian equity markets remained concerned about slowdown, CPI inflation, higher interest rates, and valuation," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
NIFTY STOCKS
Among the Nifty basket, 40 stocks declined while 11 stocks advanced. L&T, Dr Reddy's Laboratories, JSW Steel, Adani Enterprises, and Adani Ports were the major laggards. On the flip side, Jio Financial, Asian Paints, Bajaj Finance, Bajaj Finserv, and ONGC were the top gainers.
BUZZING STOCKS
Shopper's Stop shares closed over 12 per cent lower after the company's managing director (MD) and chief executive officer (CEO), Venu Nair, resigned.
Jio Financial snapped a 4-day losing streak and ended over 3 per cent higher.
Kfin Technologies ended over 12 per cent higher after Jefferies initiated a 'buy' on the stock.
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