Share Market Today 19 August: Both benchmark indices opened flat  Source- social media
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Share Market Today 19 August: Both benchmark indices opened flat

Nifty opened at 24,891.35 while the BSE Sensex started the day at 81,319.11

Suruchi Sharma

Share Market Today 19 August: On Tuesday, Indian stock markets began the day with caution, as both major indices remained steady in the initial trading hours. Investors were vigilant due to the ongoing Ukraine peace negotiations and were looking for signals from global markets.

The Nifty 50 index opened at 24,891.35, gaining 14.40 points or 0.06 per cent, while the BSE Sensex started the day at 81,319.11, up 45.36 points or 0.06 per cent. Market experts said that any development in the Ukraine-Russia truce will act as a major trigger for Indian equities.

Ajay Bagga, Banking and Market Expert, told ANI, "Indian markets are flat this morning and the bond yields rose yesterday on the expectation of higher government borrowings to support the tax cuts loss of revenues. Any Ukraine-Russia truce will be a catalyst for Indian markets as well. Today, most global futures are in caution mode. The Ukraine peace process is progressing, which should have been a good catalyst for the markets."

In the wider NSE market, the Nifty 100 index increased by 0.08 percent, the Nifty Midcap 100 climbed 0.14 percent, and the Nifty Smallcap 100 went up by 0.10 percent. Sector-wise, the results were varied. Nifty Auto fell by 0.16 percent, Nifty IT decreased by 0.03 percent, and Nifty Pharma also dropped by 0.10 percent.

Nifty Private Bank lost 0.15 per cent. On the other hand, shares of Nifty Media, Nifty Metal, and Nifty Oil and Gas traded in positive territory during the opening session.

Global factors also played a role in market sentiment. The upcoming speech of US Federal Reserve Chair Jerome Powell at the annual Jackson Hole Symposium is being closely watched for hints on Fed policy in the backdrop of tariffs and possible rate moves.

While the rise in the US Producer Price Index (PPI) for July has slightly lowered expectations of a September rate cut, the market consensus still points to a cut. In addition, US retail earnings due this week are expected to give direction on consumer strength in the world's largest economy.

Sudeep Shah, the Head of Technical and Derivatives Research at SBI Securities, mentioned that for Nifty, the range of 24,800-24,770 serves as a significant support level. Conversely, the range of 25,000-25,050 is a key resistance area. A consistent move above 25,050 could trigger a strong upward rally reaching 25,200, and subsequently 25,350 in the short term. Meanwhile, in other Asian markets, Japan's Nikkei 225 index decreased by 0.19 percent in early trading, Hong Kong's Hang Seng index dropped by 0.29 percent, Taiwan's Weighted index declined by 0.51 percent, and South Korea's KOSPI fell by 0.25 percent.