FINAL TRADE: Indices snap 3-day winning streak; Sensex slips 181 pts, Nifty ends at 19,387

Stock market today: The domestic equity market ended in the red on Thursday, August 24, snapping a three-day winning streak amid selling in auto, financial services, pharma, metals, and oil & gas stocks. Besides, market participants awaited the Reserve Bank of India's (RBI) August policy minutes meeting.

At close, both indices were down over 0.28 per cent. The BSE Sensex was down 0.28 per cent or 180.96 points, at 65,252.34, and NSE Nifty was down 0.29 per cent or 57.3 points, at 19,386.7.

In the broader market, the Nifty Mid Cap 100 was up 0.24 per cent, on the other hand, the Small Cap 100 was down 0.35 per cent. 

Nifty Bank closed flat but in green at 44,496.2.

TECHNICAL VIEW

"Technically, the Nifty has formed a bearish candle, which is largely negative. For bulls, 19,470 would act as an immediate resistance zone, and if the index is trading below the same level, the weak sentiment is likely to continue and could retest the level of 19,325–19,300. On the flip side, post-19,500 breakout, the market could rally till 19,600–19,625," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

NIFTY STOCKS 

Jio Financial Services, Reliance Industries, Divi's Laboratories, Power Grid, and ONGC were the major laggards. On the flip side, BPCL, Asian Paints, IndusInd Bank, Infosys, and Britannia were the top gainers.

BUZZING STOCKS 

Coforge ended over 9 per cent higher after reports about a block deal of 1.63 crore shares, likely where promoter Hulst BV (Baring Private Equity Asia) may sell the entire stake.

GMR Airports settled over 9 per cent up. The stock is up 22 per cent this year.

Max Financial Services ended over 2 per cent up at Rs 906.25 apiece on BSE.

Defence stocks related to Chandrayaan-3, Centum Electronic, and MTAR Technologies were up 3 per cent to 7.26 per cent 

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

GLOBAL MARKETS 

Global markets mostly rose Thursday after Wall Street rallied to its best day since June as pressures from the bond market relaxed a bit. France's CAC 40 added 0.9 per cent in early trading to 7,314.49.

Germany's DAX gained 0.8 per cent to 15,859.15. Britain's FTSE 100 rose 0.4 per cent to 7,349.46. U.S. shares were set to trade mixed, with Dow futures slipping less than 0.1 per cent to 34,510.00, while S&P 500 futures gained 0.6 per cent to 4,475.25.

Asian benchmarks rose. Japan's benchmark Nikkei 225 gained 0.9 per cent to finish at 32,287.21. Australia's S&P/ASX 200 added 0.5 per cent to 7,182.10. South Korea's Kospi jumped 1.3 per cent to 2,537.68. The Bank of Korea's Monetary Policy Board left the base rate unchanged at 3.50 per cent. Hong Kong's Hang Seng surged 2.1 per cent to 18,212.17, while the Shanghai Composite rose 0.1 per cent to 3,082.24.

(with agency inputs)

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