Stock Market Today: Sensex Falls 694 Points, Nifty Ends Below 24,900; Financials & IT Drag Indices
Indian stock market ended lower on August 22 as Sensex dropped 694 points and Nifty closed below 24,900. Selling pressure in financials, IT, and FMCG stocks, along with global uncertainty ahead of Powell’s Jackson Hole speech, weighed on investor sentiment.
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The Indian stock market witnessed heavy selling on Friday, August 22, as benchmark indices snapped their six-session winning streak. The BSE Sensex plunged 694 points to close at 81,306.85, while the NSE Nifty 50 ended 214 points lower at 24,870.10.
The decline was largely driven by weakness in financial, IT, FMCG, metal, and realty stocks, reflecting investor caution ahead of U.S. Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium. Global uncertainties, including the threat of new U.S. tariffs and slowing growth signals, further pressured domestic equities.
Among the major laggards, State Bank of India (SBI) dropped 1.14% to ₹816.10, while other banking stocks like Kotak Mahindra, ICICI, and IndusInd also slipped. IT stocks, which had been rallying in recent sessions, reversed gains and contributed to the sell-off.
Adding to the market buzz, BSE Ltd. came under the spotlight after its Public Interest Director resigned, prompting renewed regulatory scrutiny from SEBI on derivatives trading.
Despite today’s weakness, the weekly performance remained positive, with Sensex gaining around 709 points and Nifty rising 239 points over the week. Analysts expect the 24,800 support level on Nifty to hold in the near term, with Powell’s remarks and global cues likely to dictate the next market direction.
