Sensex falls 526 points, Nifty slips to 24,913
Markets took a breather on Friday, with the Sensex falling 526 points to 81,474 and the Nifty slipping 170 points to 24,913.
This ended a six-day winning streak as investors grew cautious ahead of US Fed Chair Jerome Powell's big Jackson Hole speech.
Financial and IT stocks lead losses
If you're tracking your investments or curious about market vibes, here's why: profit-booking after recent highs and worries over new US tariffs (set for August 27) made traders uneasy.
Financial and IT stocks like HDFC Bank, ICICI Bank, and HCL Tech saw losses, while Bharat Electronics and Bajaj Finance managed gains.
The rupee also weakened slightly to ₹87.36 per dollar.
With volatility up nearly 2%, all eyes are now on Powell's comments for clues about what happens next in global markets.
More of a pause than a panic
Market experts suggest the decline is more of a pause than a panic—recent GST reforms and an S&P sovereign rating upgrade gave markets a boost, but global uncertainty (like tariff hikes and currency swings) is making people tread carefully for now.
Pharma and consumer durables were the only sectors holding steady amid the dip.