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Sensex slides 861 pts, Nifty holds 17,300; RIL slips 1% post 45th AGM

CLOSING BELL: Mukesh Ambani laid out succession plan with Akash Ambani championing telecom, Isha Ambani controlling Retail, and Anant Ambani joining new-energy vertical

SI Reporter New Delhi
markets, investor, stock market, broker, trader

1 min read Last Updated : Aug 29 2022 | 4:10 PM IST
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4:10 PM

Technical View: Rupak De, Senior Technical Analyst at LKP Securities

Nifty slipped sharply lower as it broke down from consolidation on the daily chart suggesting a rise in the bearish bet in the market. The momentum oscillator RSI is in bearish crossover and falling towards the oversold zone. The short-term trend at the juncture looks weak, on the lower end, the index may drift down towards 17000-16950 over the short term. On the higher end, resistance is visible at 17500.

4:08 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

Powell’s hawkish tone during the Jackson Hole symposium pointed towards a stricter rate hike while investors were expecting a milder policy action post the release of the softer July inflation reading. This has increased concern about an economic slowdown, which has caused a significant sell-off in the US market and spillover effects on markets around the world. The sell-off in emerging markets like India was exacerbated by concerns over the possible withdrawal of foreign funds, which was the backbone of the recent market rally.

4:06 PM

3 reasons why the Sensex ended 861 points lower at 57,973 levels on Monday

Monday's market mayhem was led by the IT pack as Nifty IT index cracked over 4 per cent. Tech M, Infosys, HCL Tech, Wipro and TCs slipped 2-5 per cent. READ MORE


4:03 PM

RIL AGM 2022: 5G in two months, FMCG business, other key announcements here

RIL's chairman Mukesh Ambani announced a slew of measures including the launch of 5G services in India in the next two months and the launch of a new Giga factory for power electronics. READ MORE


3:58 PM

Paper stocks defy weak market mood, surge up to 5%

3:55 PM

NDTV hits 5% upper circuit after Sebi sees no bar in transfer of shares to Adani

3:52 PM

AGM announcements failed to excite RIL, stock down 0.6%

3:50 PM

Biocon, Birlasoft, Mphasis among stocks that hit 52-week low

3:47 PM

Nifty IT tanks 3%, worst sectoral performer in trade

3:44 PM

Tech Mahindra, Infosys, Wipro top Nifty50 losers

3:41 PM

Britannia, Maruti, Nestle India top Nifty50 winners

3:38 PM

Broader markets subdued; India Vix spikes over 8%

3:36 PM

Barring Nifty FMCG, all sectors drown in a sea of red

3:34 PM

SENSEX HEATMAP: 9 out of 30 index constituents close in green

3:32 PM

CLOSING BELL: Sensex closes over 850 points lower

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Topics :SensexInflationMARKET LIVEMARKET WRAPNiftyMarket trendsJackson hole meetJerome PowellUS Fed interest rateFII flowsDIIsBuzzing stocksstocks to watchReliance Industries AGMReliance IndustriesCiplaNHPCBritannia IndustriesCrude Oil PriceGlobal Markets

First Published: Aug 29 2022 | 8:27 AM IST

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