Nifty Opens 275 Points Lower, Sensex Falls 827 Points, On Weak Global Cues

Indian markets are trading lower today. On September 1, the Nifty 50 opened at 17,485.70 points up by 2.58%, and Sensex opened at 58,710.53 points. At the time of writing Nifty fell by 0.57%, and Sensex fell by 0.58%. Today, Asian stock markets are also trading lower, on weak global cues, Nikkei stood at 27,596.47 points falling by 1.76%, while Kospi stood at 2,423.98 points falling by 1.94%, and Hang Seng Index stood at 19,650.77 points falling by 1.52%.

Indices like Nifty PSU Bank increased by 1.42%, Nifty Private Bank is up only by 0.05%, buy Nifty IT is down by 0.68%. IT major Infosys share price drops by 2.05%, and TCS is down by 2.15%. Oil & Natural Gas Corporation Limited (ONGC) is also observing a major downturn, with a 2.85% intra day fall. Nifty Next 50 and Nifty Smallcap 100 have gained by 0.25% and 0.47% respectively. Nifty Microcap 250 gained by 1.22%, while Nifty 100 dropped by 0.32% today.

Earlier, at the Jackson Hall Symposium, US Fed Chair Jerome Powell said, "While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain." On that ground, the Fed is hawkish against inflation, and indicated the central bank can initiate further rate hike in September; he added, the Fed's decision on rate hike "will depend on the totality of the incoming data and the evolving outlook."

Fresh 52-week high stocks

The top 5 stocks to reach 52-week high level on NSE in intra day trading are Aaron Industries Limited up by 19.99%, Rossell India Limited with a 12.37% gain, Reliance Infrastructure Limited with an 11.54% gain, Savita Oil Technologies Limited with a 10.45% gain, and Bombay Super Hybrid Seeds Limited with a 10.00% gain. Additionally, TVS Electronics Limited up by 3.85%, in the intra day trading, to hit fresh 52-week high-level today.

Fresh 52-week low stocks

The top 3 stocks to reach 52-week low level on NSE are DSP Mutual Fund - DSP Silver ETF with a 6.57% intra day fall, Nippon India Mutual Fund - Nippon India Silver ETF with a 2.04% intra day fall, and ICICI Prudential Mutual Fund - ICICI Prudential Silver ETF with a 1.97% fall.