Indian shares ended little changed for the second day running on Thursday, with weak cues from Asia and Europe as well as the expiry of August-series futures and options contracts weighing on sentiment.
The mood in global markets turned cautious as investors awaited Fed Chair Jerome Powel’s remarks at the Fed’s annual Jackson Hole gathering for clues on the timing of a tapering of monetary stimulus.
Closer home, the second wave of COVID-19 will lead to new problem loans in the retail and SME segments, but a severe asset quality decline is unlikely, global rating agency Moody’s Investors Service said in a release.
The improved profitability, capital and loss buffers of banks will help them absorb anticipated loan losses and maintain credit strength, Moody’s said.
The benchmark 30-share BSE Sensex ended a choppy session up 4.89 points, or 0.01 percent, at 55,949.10 while the broader NSE Nifty index edged up 2.25 points, or 0.01 percent, to 16,636.90.
Britannia Industries jumped 2.7 percent as Jehangir Wadia withdrew from all listed businesses of the $15-billion Wadia Group.
Reliance Industries, HDFC Life, BPCL and Tata Consumer Products rose 1-2 percent while Bharti Airtel slumped as much as 4.4 percent amid fund raising reports.
Hindalco, SBI, Maruti Suzuki India and JSW Steel dropped 1-2 percent.
Market Analysis
Sensex, Nifty End Flat Amid F&O Expiry
2021-08-26 11:04:36
