Indian stock market indices Sensex and Nifty opened in red on Monday, August 31, after closing the previous week with a rebound on Friday post two days of losses.
BSE Sensex was at 76,978.61, 0.37 per cent or 285.90 points down in opening trade on Monday while Nifty was trading at 24,117.55 – 0.24 per cent or 58.10 points down.
Sensex ended at 77,264.51, 0.43 per cent or 330.91 points on Friday, while Nifty stood at 24,175.65, 0.35 per cent or 84.80 points up.
Among the 30 Sensex firms, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Tech, Titan and Eternal were the major winners on Friday. ICICI Bank, UltraTech Cement, Asian Paints and ITC were among the laggards, according to data cited in a PTI news agency report.
“Strong gains in IT stocks helped Indian equities close higher today. The sector was supported by Nvidia’s strong earnings and upbeat outlook, which reinforced optimism around sustained AI-related investments and benefited firms involved in enterprise AI deployment and workflow integrationm” PTI quoted as saying Vinod Nair, Head of Research, Geojit Investments Ltd, said.
“However, investor participation remained selective as markets awaited comments from the Fed Chair at the Jackson Hole symposium for greater clarity on the US interest-rate outlook and global liquidity conditions,” Nair said.