Stock markets marginally up in volatile trade ahead of U.S. Fed chief speech
The Hindu
Sensex and Nifty rise in volatile trade on Friday amid global trends, awaiting U.S. Fed chair's speech at Jackson Hole.
Benchmark Sensex and Nifty edged up in volatile trade on Friday (August 23, 2024) following buying in blue-chip stocks such as ICICI Bank and Bharti Airtel amid mixed global trends ahead of the U.S. Fed chair's speech at the Jackson Hole Symposium.
Rising for the fourth straight session, the 30-share Bombay Stock Exchange (BSE) Sensex ended 33.02 points, or 0.04% higher at 81,086.21.
In early trade, the benchmark declined 169.93 points, or 0.20%, to a low of 80,883.26. Later, it bounced back 178.3 points, or 0.21%, to hit a high of 81,231.49, but gave up gains towards the end.
The National Stock Exchange (NSE) Nifty edged up 11.65 points, or 0.05%, to close at 24,823.15, registering gains for the seventh session in a row.
From the Sensex pack, Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra and JSW Steel were the gainers.
Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, the State Bank of India, Tata Consultancy Services and HDFC Bank were the laggards.
"Ahead of FED Chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario," Vinod Nair, Head of Research at Geojit Financial Services said.
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