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Domestic equities opened higher on Monday in the holiday-shortened week, taking cues from gains across Asia
Stock Market Today
Sensex Today: Indian equities opened higher on Monday, mirroring gains across Asian and US markets. The BSE Sensex rose 227 points, or 0.28 per cent, to 81,533, while the NSE Nifty50 advanced 68 points, or 0.27 per cent, to 24,938.
The positive sentiment followed comments by US Fed Chair Jerome Powell at the Jackson Hole summit, where he signalled openness to rate cuts amid labour market weakness, while cautioning on inflation risks from President Donald Trump’s tariffs.
On the Sensex, Infosys, TCS, Tech Mahindra, HCLTech, Bajaj Finance, NTPC, Trent, Ultratech Cement, Asian Paints, and Tata Steel gained up to 2 per cent. In contrast, Bharti Airtel, ICICI Bank, Maruti Suzuki, Sun Pharma, HUL, ITC, and M&M fell up to 1 per cent.
The Nifty MidCap and Nifty SmallCap indices climbed 0.37 per cent and 0.35 per cent, respectively. Sectorally, IT led the gains with a 1.8 per cent jump, followed by Realty (0.8 per cent) and Metal (0.5 per cent).
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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