Sensex Turns Red, Nifty Flat At Apen; Ambuja, RailTel Rise 3%

Indian benchmark indices were dragged down by global cues at market open on Friday, as investors awaited cues from US Federal Reserve Jerome Powell’s speect at the ongoing Jackson Hole Economic Symposium.

The BSE Sensex was at 81,038, down 0.02 per cent, while the broader Nifty 50 was flat at 24,812.

Global Cues

All the three major US stock indexes lost ground on Thursday, weighed down by technology shares, as Treasury yields rose on easing recession fears in the US, ahead of the Fed chair’s speech.

The Dow Jones Industrial Average fell 177.71 points, or 0.43 per cent, to 40,712.78, while the S&P 500 lost 50.21 points, or 0.89 per cent, at 5,570.64 and the Nasdaq Composite dropped 299.63 points, or 1.67 per cent, to 17,619.35, overnight.

Benchmark indices in the Asian markets were mostly down, as investors everywhere trained their eyes on the gathering of central bank officials from around the world to look for cues about an interest rate easing cycle as inflation moderates gradually.

Japan’s Nikkei 225 was trading at 38,150, down 0.15 per cent, while Australia’s ASX 200 was down nearly 0.4 per cent, and Hong Kong’s HSI was quoting 0.34 per cent lower.