FIRST TRADE: Sensex slips 400 points amid weak global cues, Nifty above 19,250; all sectoral indices in the red

Stock market today: The domestic equity market opened lower on Friday, August 25, a day after the Reserve Bank of India (RBI) raised inflationary concerns. Besides, investors were also cautious ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium. All the indices on the sectoral front traded in the red with heavy selling in IT, bank, realty, and metal stocks.

At the time of filing this report, the BSE Sensex was down 416.46 points, or 0.64 per cent, at 64,835.88, and the NSE Nifty was down 120.45 points, or 0.62 per cent, at 19,266.25.

On the Nifty 50 index, 45 stocks declined and only six stocks advanced. In the broader market, while the Nifty Mid Cap 100 opened lower, the Small Cap 100 was flat.

BUZZING STOCKS 

In the pharma pack, Granules India, IPCA Laboratories, Alkem Laboratories, Aurobindo Pharma, and Sanofi India shares were up 1 per cent to 0.11 per cent. 

Supreme Industries stock traded over 1 per cent higher after the company bought the PVC-O, HDPE, and PVC businesses of Parvati Agro Plast.

Astra Microwave Products shares were up over 3 per cent after the company received orders worth Rs 158 crore from DRDO, ISRO, and DPSU. 

One 97 Communications Ltd, the parent company of Paytm's stock, was up over 1 per cent after reports about a block deal to take place. 

Bharat Electronic shares were up over 1 per cent after the defence ministry approved capital acquisition proposals worth approximately Rs 7,800 crore.

Brightcom Group shares were down nearly 5 per cent after the ED raided the premises of the promoter and auditor and recovered Rs 3 crore. 

Jio Financial Services stock hovered near its lower circuit for the fifth session.

Kfin Technologies stock was up over 8 per cent after Jefferies initiated a 'buy' on the stock for a target of Rs 500 apiece.

GLOBAL MARKETS 

Asian shares mostly fell Friday, discouraged by a Wall Street slump that followed a blowout profit report from Nvidia and mixed reports on the U.S. economy.

Japan's benchmark Nikkei 225 dropped 1.8 per cent to 31,713.24 in morning trading. 

Australia's S&P/ASX 200 dipped nearly 1 per cent to 7,111.60. South Korea's Kospi lost 0.6 per cent to 2,522.09. 

Hong Kong's Hang Seng slipped 1 per cent to 18,035.97, while the Shanghai Composite shed 0.3 per cent to 3,073.25. 

(With agency inputs) 

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