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Domestic equities opened higher on Monday in the holiday-shortened week, taking cues from gains across Asia
Stock Market Holiday: BSE, NSE to be closed on August 27.
Sensex Today: Indian equities ended higher on the back of strength in global markets, as investors took cues from US Federal Reserve Chair Jerome Powell’s comments at the Jackson Hole summit in Wyoming on Friday. Powell kept the possibility of rate cuts open, pointing to signs of weakness in the US labour market, while also cautioning about persistent inflation risks stemming from President Donald Trump’s tariff measures.
At the close, the BSE Sensex settled at 81,635.91, up 329.06 points (0.40%), while the NSE Nifty50 ended at 24,967.75, gaining 97.65 points (0.39%).
In the broader market, the Nifty MidCap 100 edged higher by 0.07%, whereas the Nifty SmallCap 100 slipped by 0.07%.
Technical outlook:
Kotak Securities’ Amol Athawale noted that the Nifty50’s 25,000 mark, coinciding with the 50-day SMA, is a crucial support. A slip below this could drag the index towards the 20-day SMA at 24,730–24,700. On the upside, immediate resistance is pegged at 25,200, with a breakout potentially extending the rally to 25,500.
Global Cues
Across Asia, markets rallied after Fed Chair Jerome Powell signaled flexibility on policy at the Jackson Hole summit. Australia’s benchmark hit a fresh record, while China’s CSI 300 and Hong Kong’s Hang Seng advanced more than 1% each. Japan’s Nikkei was up 0.7%.
Powell acknowledged a “shifting balance of risks,” pointing to weak US jobs data as a reason for potential easing, while also flagging inflationary pressures from President Donald Trump’s tariffs. Traders are now pricing in an 84% chance of a Fed rate cut at the September 16–17 FOMC meeting, according to Bloomberg.
Wall Street welcomed the dovish tone, with the S&P 500 logging its best session since May, closing 1.52% higher. The Nasdaq climbed 1.88%.
This week’s key triggers include the US inflation print, Nvidia Corp’s quarterly results, and a series of earnings across Asian markets.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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