Equities end in the red; Sensex-Nifty is lower

The stock market had a difficult day and ended up closing down, with losses on both the Sensex and the Nifty.

Sensex concluded the trading session down by 365.83 points at 64,886.51, while Nifty ended 120.90 points lower at 19,265.80.
Nifty firms struggled, with only 11 stocks advancing and 40 declining.
Among the top gainers at market closing were Jio Financial Services, Bajaj Finserv, Asian Paints, Bajaj Finance, and ONGC.

At the close of trading on Friday, Adani Enterprises, Dr. Reddy, JSW Steel, Adani Ports, and Larsen & Toubro were among the top losers. Concerns about the global market were cited by Profit Idea’s founder and managing director, Varun Aggarwal, as the reason for the market’s lowest closing point of the day. He stated that the market would be closely watching the Jackson Hole meeting’s outcome for additional cues.

“Market closed at the lowest point of the day due to concerns related to the global market. It will take further cues from the Jackson Hole meeting outcome today”, said Aggarwal.
The sectors that dragged down the indices included Financial Services, Energy, Health Pharma, Consumer Non-Durables, and Industrial Services.
“Interesting Nifty broke down the major weekly support of 19,253. It will be important to see how the market reacts in the last week of FO expiry on 31st August 2023.”