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India’s Sensex falls on monthly expiry day as Fed expectations linger
The Sensex ended down 0.7% at 76,933.6, with investors also watching Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks for rate-hike signals.
Domestic benchmark indices ended lower on Thursday, weighed by declines in heavyweight stocks across sectors amid mixed global cues, according to LiveMint Markets. The Nifty slipped below the 24,100 level to close at 24,090.9, down 117 points, or 0.5%.
The Sensex fell to 76,933.6, losing 539 points, or 0.7%, on the monthly expiry day. Religare Broking’s Ajit Mishra said investor sentiment remained cautious due to mixed global signals, while firmer inflation data kept US Fed rate-hike expectations alive.
Mishra pointed to a technical setup in the Nifty, saying it is narrowing its consolidation range into a tighter band, with a breakout from either side expected to set the next near-term direction. He added that 24,100 to 24,000 is a key support zone, where a sustained break could push the correction toward 23,800 to 23,650, while 24,200 is seen as the immediate hurdle, followed by 24,300 to 24,400.
On specific stocks, Mishra said CG Power shares found support after profit-taking near the 980 area, rebounded, and broke out above a declining trendline, suggesting an uptrend resumption. He also described Mazagon Dock Shipbuilders as maintaining a constructive bullish structure, with higher highs and higher lows after an extended consolidation phase.
Latest closeSensex 77,472.94 ▼0.2%