Sensex, Nifty Slide Sharply On First Monthly Expiry Under New Auction Session
· Business · Economic Times, Times of India
Indian benchmark indices closed sharply lower on Thursday as expiry-day volatility intensified under the new Closing Auction Session framework, with the BSE Sensex falling 539 points, or 0.7%, to 76,934 and the Nifty losing 117 points, or 0.48%, to end below 24,091. Vinod Nair, head of research at Geojit Investments, attributed the selloff to expiry-led volatility and the lack of a diplomatic breakthrough in the Middle East, while noting that moderating crude prices and softer long-term bond yields are supporting the inflation outlook. FII inflows and resilient earnings momentum continue to back Indian equities, especially mid-caps that are insulated from global uncertainty, he said. Investors are now awaiting US Federal Reserve chair Kevin Warsh's Jackson Hole address for cues on inflation, rates, and the policy outlook that could sway global risk sentiment and capital flows into emerging markets. The session also came amid headlines on record crorepati investor wealth and 67 stocks,
Why it matters
Indian retail investors with equity, mutual fund, or SIP exposure saw portfolio values dip on expiry-day swings, and Friday's trade hinges on Warsh's Jackson Hole remarks for direction on FII flows and rate-sensitive sectors.
Read the original report — Economic Times
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