Market opens on a muted note on Thursday, August 29, with domestic benchmark indices showing slight declines. The S&P BSE SENSEX traded at 81,729.76, down by 56 points, or 0.07%, while the NSE NIFTY50 stood at 25,033.45, down by 19 points, or 0.08%.
IT stocks showed mixed performance following Nvidia’s earnings report, which left investors unimpressed. The S&P BSE IT index was trading at 43,093.43, down by 0.29%.
In individual stocks, PB Fintech shares rose nearly 2%, reaching ₹1,767.65 on the BSE. This increase came after reports that 97 lakh shares, representing 2.1% of the company’s equity, changed hands in a block deal. On the other hand, InterGlobe Aviation, the parent company of IndiGo, saw its shares fall by over 1% to ₹4,799.95, also amid reports of a block deal.
Globally, Asian shares followed Wall Street futures lower, with Nvidia’s results dampening the mood among bullish investors. The dollar held steady, and the U.S. Treasury yield curve was close to turning positive.
Investors are now focused on U.S. weekly jobless claims, which are crucial due to the Federal Reserve’s attention on the labor market. Additionally, inflation data from Germany and Spain are being watched for hints on potential rate cuts beyond September.
