Indian markets experienced volatility before closing relatively unchanged on Friday as investors cautiously awaited Federal Reserve Chair Jerome Powell's highly anticipated address at Jackson Hole. Powell's speech, expected later in the day, could provide new information regarding the Federal Reserve's plans for interest rate cuts this year.
It is anticipated that Powell might use the occasion to prepare markets for a potential 25-basis point rate cut in September, a move that market participants have already factored in.
Investors also kept a wary eye on mounting tensions in the Middle East, as hostilities continued in parts of Palestinian territory despite intensified U.S. efforts to mediate a ceasefire between Israel and Hamas.
The benchmark BSE Sensex index concluded the session with a modest gain of 33.02 points, or 0.04%, at 81,086.21. Meanwhile, the broader NSE Nifty index edged up by 11.65 points, or 0.05%, closing at 24,823.15.
Shares of Bajaj Auto surged by 4.7% after the company became the first automotive original equipment manufacturer (OEM) to obtain a domestic value addition (DVA) certificate for all 15 of its electric models.
Among the gainers, Sun Pharma, Tata Motors, Bharti Airtel, and Coal India saw increases ranging from 1% to 2%. Conversely, Titan Company, Asian Paints, ONGC, Wipro, and LTIMindtree each experienced a decline of approximately 1%.
