Market snaps six-day winning streak, Sensex falls nearly 700 pts

The domestic share market indices snapped a six-day rally on Friday, as investors awaited Jerome Powell’s Jackson Hole address and weighed risks from possible U.S. tariffs on Indian goods alongside other global headwinds.At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. About 1693 shares advanced, 2208 shares declined, and 143 shares unchanged.
M&M, Bharat Electronics, Maruti Suzuki, Bharti Airtel, Titan Company were the top gainers on the Nifty, while losers included Asian Paints, Grasim Industries, Adani Enterprises, Hero MotoCorp, UltraTech Cement.On the sectoral front, media index rose 1%, and pharma index added 0.4%, while metal, IT, FMCG, oil & gas, PSU Bank, Private Bank, realty fell 0.5-1%.BSE Midcap and Smallcap indices ended lower.
Market This Week: 
●Market records weekly gains despite a fall on Friday,
●Sensex & Nifty gain 1% each for 2nd straight week,
●Financials underperform, Nifty Bank gives up half of last week’s gains,
●Midcap index outperforms frontline indices, rises more than 2%,
●Auto, realty & consumption sectors gain the most on GST rationalisation
Rupee Close:
On 22 Aug'25,the Indian rupee fell 27 paise to close at 87.52 against the greenback on Friday as domestic equity markets ended weaker and the US dollar strengthened ahead of the speech of Fed Chairman Jerome Powell.However, inflow of foreign funds and a drop in Brent crude prices supported the domestic unit at lower level.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated,the Indian equity market closed in the red today, ending a six-session winning streak and erasing gains accumulated over the past three days. Investor sentiment turned cautious ahead of the U.S. Fed Chair’s speech at the Jackson Hole symposium, which is expected to provide critical insights into the global liquidity outlook and future interest rate trajectory.The U.S. using trade tariffs on India as a strategic tool in its stance against Russia has raised near-term concerns among institutional investors. However, strong domestic indicators offer support: the PMI has hit a record high and recently proposed indirect tax reliefs are expected to boost consumption, underscoring India’s economic resilience.

(Business Correspondent)