Stock Market Live Highlights: Market Close | Nifty Below 24,900, Sensex Down 680 Points; Banks, Metals, FMCG, Realty Drag

Market Close Update – August 22 Indian equity markets ended the day on a weak note with the Nifty closing below 24,900 and the Sensex falling by 680 points. Selling pressure was seen in key sectors such as banking, metals, FMCG, and realty, which weighed heavily on the indices. Among individual gainers were M&M, Bharat Electronics, Maruti Suzuki, Bharti Airtel, and Titan Company, while Asian Paints, Grasim Industries, Adani Enterprises, Hero MotoCorp, and UltraTech Cement closed lower. Sector performance was mixed, with the media index rising 0.7% and pharma adding 0.5%, providing some positive momentum. However, metal, IT, FMCG, oil & gas, and...

FMCG stocks including ITC, Nestle, and others dropped up to 2%, extending losses into the second day following a strong three-day rally. The sector had gained nearly 4% between August 18 and 20, buoyed by Prime Minister Narendra Modi’s hint at upcoming GST reforms, which were expected to be announced as a Diwali gift for consumers. Investors initially reacted positively to the potential tax changes, driving FMCG shares higher. However, the recent pullback suggests some profit-taking or cautious sentiment as the market digests the news and awaits more clarity on the reforms and their impact on consumer demand. 

Sensex slipped to 81,488.32, down by 512.39 points (0.62%), while Nifty dropped 156.90 points (0.63%) to 24,926.85 as of 12:50 PM today. The market has been falling steadily since morning on this crucial last trading day before the weekend — and the reasons might shock you! After a huge 1,800-point rally, investors started profit booking. On top of that, all eyes are now on Trump’s tariffs, creating uncertainty. Add to that the nervous wait for Fed Chair Powell’s speech at Jackson Hole, weak heavyweight sectors, and escalating Russia-Ukraine tensions. The market mood is tense and uncertain!

The Nifty index is currently declining and nearing a key technical support level, the 20-day moving average at 24,912.70.

Although, Nifty rose a little after 10:30 Am, the market stays volatile and on the last day of the week, invetors don’t look very happy. 

The Indian Rupee opened at 87.37 against the US dollar on Friday, slightly weaker compared to Thursday’s close of 87.27. This marginal decline reflects cautious market sentiment ahead of key global events, including the highly anticipated speech by Federal Reserve Chair Jerome Powell.