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Traders nervous ahead of Jackson Hole meeting
Nikhil Agarwal | 01:46 Min | August 25, 2022, 6:37 PM IST
After opening with healthy gains, the 30-share pack Sensex slipped into the red, falling 710 points from the day’s high to end 311 points lower at 58,774.72. Its broader peer, Nifty50, fell 82.50 points to end the August futures and options (F&O) series at 17,522.45.
Transcript
Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.
Domestic equity benchmarks reversed their two-day attempt to cut this week’s losses amid expiry of August derivatives.
Traders have remained hesitant to make any huge wagers throughout this week ahead of Jerome Powell’s speech on Friday.
After opening with healthy gains, the 30-share pack Sensex slipped into the red, falling 710 points from the day’s high to end 311 points lower at 58,774.72. Its broader peer, Nifty50, fell 82.50 points to end the August futures and options (F&O) series at 17,522.45.
Crude prices also rose as Saudi Arabia suggested that OPEC+ supply may be reduced to address market instability.
Bajaj Finance, Infosys, TCS, IndusInd Bank, and Axis Bank fell around 1-2 per cent each. Power Grid, NTPC, L&T, HDFC, Nestle and ITC also settled with cuts. Maruti, SBI, DRL and Titan were the only 4 from the 30-share pack to end in the black.
Sectorally, IT shares cracked nearly 1 per cent. Nifty bank, metal, auto, and pharma also ended lower while Nifty PSU bank advanced 2.7 per cent and Nifty realty rallied 1.47 per cent.
NDTV shares hit the upper circuit for the second session on the Adani takeover bid. IDBI Bank shares also jumped over 7 per cent as the government, and LIC mulled stake sales. BHEL shares also rallied more than 7 per cent on multiple block deals.
The market has logged gains for the second straight series as frontline indices advanced 4-6 per cent in the August F&O series.
Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said there is nervousness ahead of the US Fed Jackson Hole meeting wherein the hawkish tone is likely to continue.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
Domestic equity benchmarks reversed their two-day attempt to cut this week’s losses amid expiry of August derivatives.
Traders have remained hesitant to make any huge wagers throughout this week ahead of Jerome Powell’s speech on Friday.
After opening with healthy gains, the 30-share pack Sensex slipped into the red, falling 710 points from the day’s high to end 311 points lower at 58,774.72. Its broader peer, Nifty50, fell 82.50 points to end the August futures and options (F&O) series at 17,522.45.
Crude prices also rose as Saudi Arabia suggested that OPEC+ supply may be reduced to address market instability.
Bajaj Finance, Infosys, TCS, IndusInd Bank, and Axis Bank fell around 1-2 per cent each. Power Grid, NTPC, L&T, HDFC, Nestle and ITC also settled with cuts. Maruti, SBI, DRL and Titan were the only 4 from the 30-share pack to end in the black.
Sectorally, IT shares cracked nearly 1 per cent. Nifty bank, metal, auto, and pharma also ended lower while Nifty PSU bank advanced 2.7 per cent and Nifty realty rallied 1.47 per cent.
NDTV shares hit the upper circuit for the second session on the Adani takeover bid. IDBI Bank shares also jumped over 7 per cent as the government, and LIC mulled stake sales. BHEL shares also rallied more than 7 per cent on multiple block deals.
The market has logged gains for the second straight series as frontline indices advanced 4-6 per cent in the August F&O series.
Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said there is nervousness ahead of the US Fed Jackson Hole meeting wherein the hawkish tone is likely to continue.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
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