Markets settle with marginal gains amid fag-end volatility

Benchmark indices managed to settle in the positive territory on August 26, with the Sensex climbing over 59 points, as fag-end volatility trimmed most of the day’s gains.

A largely firm trend in global markets and foreign fund inflows propped up the bourses, traders said.

The BSE Sensex climbed 59.15 points or 0.10% to settle at 58,833.87. During the day, it jumped 546.93 points or 0.93% to 59,321.65.

The broader NSE Nifty advanced 36.45 points or 0.21% to end at 17,558.90.

From the Sensex pack, NTPC, Titan, Power Grid, Kotak Mahindra Bank, Larsen & Toubro, Tech Mahindra, Tata Steel and Mahindra & Mahindra were among the major winners.

On the other, IndusInd Bank, HDFC, Asian Paints and Bharti Airtel were the major laggards.

In Asia, markets in Seoul, Tokyo, and Hong Kong ended in the green, while Shanghai closed with losses.

Stock markets in Europe were trading lower during mid-session deals. Wall Street had ended with gains on Thursday.

“Investors’ lack of confidence and caution in anticipation of the Fed chair’s remarks led to a significant sell-off towards the close of the session. Western markets are trading with cuts as they await clues on further policy actions by the Fed to tame elevated inflation. This is expected to impact demand,” said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, the international oil benchmark Brent crude jumped 1.14% to $100.5 per barrel.

Foreign institutional investors (FIIs) bought shares worth a net ₹369.06 crore on Thursday, according to exchange data.