Dalal Street trimmed gains in the dying hour of trade on Friday but managed to close in the positive territory. S&P BSE Sensex added 59.1 points or 0.10% to settle at 58,833. NSE Nifty 50 fared a tad bit better, gaining 36 points or 0.21% to end at 17,558. Bank Nifty ended 0.09% higher at 38,987 while India VIX fell 6.9% to close at 18.22 levels. On a weekly basis, Sensex and Nifty were in the red, ending the gaining streak. NTPC was the top Sensex gainer, up 2.86%, followed by Titan, Kotak Mahindra Bank, and Power Grid. IndusInd Bank was the worst performing stock on Sensex, falling 1.66%. Bharti Airtel, HDFC, Asian Paints were the other laggards.
Deepak Jasani, Head of Retail Research, HDFC Securities –
“Nifty closed higher on Aug 2, partly reversing the losses of the previous day, ahead of the Jackson Hole speech by the US Fed Chair. India’s 10-year bond yield is on course to decline after six sessions on a report of JPMorgan consulting investors about adding India to its bond index. Nifty snapped a five-week winning streak and closed 1.12% lower for the week. The outcome of the speech by the US Fed Chair at Jackson Hole on Friday evening is widely awaited for cues on sentiments going ahead. On daily charts, Nifty has formed an indecisive doji after a small fall. A breakout above/below 17727-17487 will determine the direction of the Nifty going forward.”
