2 days ago
Sensex, Nifty, Bank Nifty Face Volatility as Asia Weakens
Asian stock markets were mostly lower at the end of August.
Japan’s Nikkei fell, but South Korea’s KOSPI rose.
Indian markets also had a weak day, with the Sensex and Nifty both losing value.
Investors were worried because oil prices jumped after a US strike and tensions involving Iran increased.
Higher bond yields also made investors concerned that US interest rates could rise.
One analyst said the Nifty might bounce toward 24,180–24,200.
However, the Nifty could fall further if it breaks below support at 23,990.
Bank Nifty showed stronger buying but still needs more buying to confirm its rise.
Overall, analysts expect markets to remain sensitive and potentially volatile.
Nifty 50 fell 0.39% to 24,080, while the Sensex declined 0.40% to 76,957.
Both Indian benchmarks ended August down more than 1.40%, ending a two-month winning streak.
Nikkei 225 fell 0.14%, while South Korea’s KOSPI rose 0.46% in the final August session.
Higher crude prices, Middle East tensions, rising bond yields and possible US rate hikes weighed on sentiment.
Analysts see a possible Nifty rebound toward 24,180–24,200, while Bank Nifty faces resistance near 58,200.
- Who
- Indian and Asian equity-market investors, along with analysts including Rupak De and Vatsal Bhuva.
- What
- Markets ended August mostly weak, with analysts assessing the likely direction of the Sensex, Nifty, Bank Nifty, Nikkei and KOSPI.
- Where
- India and major Asian markets, including Japan and South Korea.
- When
- The next session is Tuesday, September 1; the reported market session was the final trading session of August.
- Why
- Sentiment was pressured by Middle East tensions, higher crude oil prices, rising bond yields, possible US rate hikes and caution around MSCI rebalancing.
Cautious Outlook
Potential Rebound
Nifty direction
Cautious Outlook
The Nifty remains weak below critical moving averages, and a sustained break below 23,990 could resume the correction.
Potential Rebound
Positive divergence in the hourly RSI could support a near-term pullback toward 24,180–24,200.
Bank Nifty momentum
Cautious Outlook
Bank Nifty closed at falling trendline resistance, and its sharp closing-auction move requires follow-up buying for confirmation.
Potential Rebound
A long bullish candlestick, support above the 50-day and 200-day moving averages, and a bullish RSI crossover suggest improving momentum.
Market sentiment
Cautious Outlook
Crude oil’s surge, Middle East escalation, rising bond yields and possible US rate hikes could continue weighing on equities.
Potential Rebound
A sustained move above Nifty 24,200 could trigger a further rise of around 100 points.
Key facts
- Nifty 50 close
- 24,080, down 0.39%
- Sensex close
- 76,957, down 0.40%
- Nifty August performance
- Down more than 1.40%
- Nifty near-term resistance
- 24,180–24,200
- Nifty support
- 23,990
- Bank Nifty resistance
- 58,200
- Bank Nifty support
- 57,300
- Asian market moves
- Nikkei 225 down 0.14%; KOSPI up 0.46%
Sources
Related news
Sensex, Nifty, Asian Markets Face Key Levels on August 27
Indian Markets Face Key Levels Ahead of Friday
Global markets stay cautious on Middle East tensions, oil rebound
Indian Stocks Under Pressure as Oil and Global Yields Rise
Markets Seen Opening Flat as Global Risk Appetite Weakens
Global Markets Turn Cautious as Oil and Tensions Rise
