Business

Indian Equity Indices Close Flat Ahead Of Fed Chair’s Speech

Indian equity indices ended largely unchanged on Friday as investors awaited a key speech from US Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium.

At the close, the Sensex edged up by 33 points to 81,086, while the Nifty gained 11 points to finish at 24,823. Throughout the day, the Sensex fluctuated between 80,883 and 81,231, and the Nifty moved within the range of 24,771 to 24,858.

Among the major Sensex stocks, Tata Motors, Sun Pharma, Bharti Airtel, Bajaj Finserv, ICICI Bank, M&M, JSW Steel, Power Grid, UltraTech Cement, and Hindustan Unilever (HUL) saw declines. In contrast, Tech Mahindra, Wipro, HCL Tech, Titan, Asian Paints, Infosys, and TCS were among the top gainers.

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Sector-wise, IT, PSU Bank, financial services, realty, media, and PSE indices experienced significant losses, while the auto, infrastructure, and energy indices showed notable gains.

The broader market showed a positive trend, with 2,061 shares advancing, 1,878 shares declining, and 109 shares remaining unchanged on the Bombay Stock Exchange (BSE).

Market experts noted, “Ahead of Fed Chair Powell’s speech, Indian indices hovered around a flat trajectory. Mixed global market sentiments have further influenced this outcome.” They added, “Investors are cautious, awaiting Powell’s guidance on future interest rate movements. Most sectoral indices were in the red, although the auto sector performed well in anticipation of festive season demand and multiple new launches.”

Foreign institutional investors (FIIs) purchased equities worth Rs 1,371 crore on August 22, while domestic institutional investors also bought shares valued at Rs 2,971 crore on the same day.

Indian equity indices opened flat in the morning session. At 9:43 a.m., the Sensex was down 129 points, or 0.16%, at 80,923, and the Nifty was down 21 points, or 0.09%, at 24,789.

Richa Kaushik

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