Stock Market Gains Slightly as Investors Await U.S. Jobless Claims Data
On Thursday, the NSE Nifty 50 rose by 0.16% to 24,810.20, and the BSE Sensex increased by 0.14% to 81,017.40. Investors were cautious ahead of U.S. jobless claims data and the Jackson Hole Symposium.
Top Gainers and Losers
The top gainers in the Nifty 50 included Grasim Industries, Tata Consumer Products, Bharti Airtel, Tata Steel, and ICICI Bank. Conversely, Wipro, Dr Reddy’s Laboratories, Tata Motors, NTPC, and M&M were among the major losers during the trading hours.
Market Volatility
During the session, India VIX was trading at its lowest of 10-13, and by the end of the day, it had closed at 12.95, suggesting a decline in market volatility.
Sector Performance
Sectors such as Media, Energy, IT, and Pharma closed with losses, while others finished in positive territory.
Expert Opinions
Varun Aggarwal, MD of Profit Idea, noted that the benchmark indices remained subdued as investors awaited key data. VLA Ambala, Co-Founder of Stock Market Today (SMT), suggested focusing on sectors like Media, FMCG, and Infrastructure in the upcoming days. She also mentioned key support and resistance levels for Nifty in the next session.
Future Outlook
Market experts are optimistic about the possibility of the Indian markets reaching a new all-time high in the coming week. This optimism is fueled by the release of the US Federal Reserve’s minutes, which have raised expectations of potential interest rate cuts in September.
Doubts Revealed
NSE Nifty 50 -: NSE Nifty 50 is a stock market index in India. It shows how the top 50 companies listed on the National Stock Exchange (NSE) are performing.
BSE Sensex -: BSE Sensex is another stock market index in India. It tracks the performance of the top 30 companies listed on the Bombay Stock Exchange (BSE).
U.S. jobless claims data -: U.S. jobless claims data shows how many people in the United States have applied for unemployment benefits. It helps understand the job market there.
Jackson Hole Symposium -: The Jackson Hole Symposium is a meeting where important people like central bankers and economists discuss economic policies. It happens in Jackson Hole, USA.
Grasim Industries -: Grasim Industries is a big company in India that makes things like cement and chemicals.
Tata Consumer Products -: Tata Consumer Products is a company in India that makes food and beverages like tea and coffee.
Wipro -: Wipro is a large Indian company that provides IT services and consulting.
Dr Reddy’s Laboratories -: Dr Reddy’s Laboratories is an Indian company that makes medicines and healthcare products.
Media sector -: The Media sector includes companies that create and distribute news, movies, TV shows, and other content.
FMCG sector -: FMCG stands for Fast-Moving Consumer Goods. This sector includes companies that make everyday products like soap, snacks, and drinks.
Infrastructure sector -: The Infrastructure sector includes companies that build and maintain things like roads, bridges, and buildings.
U.S. interest rate cuts -: U.S. interest rate cuts mean that the central bank in the United States is lowering the cost of borrowing money. This can help boost the economy.
