Synopsis : Indian markets traded cautiously higher on Friday as Sensex gained 130 points and Nifty hovered near 24,530. Private banks and FMCG stocks led the rally, while investors awaited RIL’s AGM and key macroeconomic data.
Indian equities opened on a steady note on Friday, August 29, with investors showing caution amid persistent concerns over US tariffs. At 12:00 PM, the BSE Sensex was up 113 points (0.14%) at 80,193, while the Nifty50 gained 36 points (0.15%) to 24,537.
The spotlight today is firmly on Reliance Industries’ 48th Annual General Meeting (AGM), where investors expect a strategic roadmap for doubling Jio and retail verticals in three–four years, alongside a blueprint for its New Energy (NE) business replicating the earnings power of its oil-to-chemicals (O2C) segment. This comes as the O2C division faces scrutiny for sourcing Russian oil.
On the data front, markets also await the release of India’s Q1FY26 GDP figures and the fiscal deficit numbers for April-July, which could further steer sentiment.
Top Movers :
Gainers included Trent, BEL, Ultratech Cement, ITC, and Larsen & Toubro, rising up to 2.4%. On the flip side, M&M, Eternal, Infosys, NTPC, and Titan emerged as top losers.
Sectoral Performance :
In sectoral indices, strength was seen in Private Banks and FMCG, while Auto, Realty, IT, and Oil & Gas slipped into the red. Broader markets fared better, with the Nifty MidCap and SmallCap indices gaining 0.21% and 0.35%, respectively.
Technical View :
For day traders, 24,600 remains a crucial resistance level, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. A fall below this could drag the index towards 24,350–24,300, while sustaining above it could extend gains to 24,725–24,800.
Overall, while volatility persists, optimism around Reliance AGM and domestic growth cues is lending support to Dalal Street.
Disclaimer : This article is for informational purposes only and should not be considered as financial or investment advice. Readers are encouraged to consult a professional advisor before making investment decisions.
Would you like me to also prepare a quick “Reliance AGM expectations box” (3–4 bullet points) inside the article so it looks more engaging for readers?
