Indian markets snapped a six-day rally, with the Nifty down around 0.6% to 24,932 and Sensex dropping to 81,517.
Declines were led by financials, which fell nearly 0.9%, and IT shares sliding about 0.6%, reversing recent strength.
Investors are treading cautiously ahead of Fed Chair Powell’s anticipated Jackson Hole remarks.
Added global pressure came from tariffs on Indian goods set to take effect August 27, plus conti
nuing geopolitical uncertainty.
Hero MotoCorp dropped around 2% following a leadership reshuffle linked to HUL.
Mazagon Dock fell roughly 1% after its price target was cut by J.P. Morgan.
On the upside, Texmaco Rail rose 2.4% after securing a ₹1 billion order.
Overall, 13 of 16 major sectors were in the red by mid-morning, indicatin
g broad weakness.
Markets await signals from Jackson Hole to determine whether the rate-cut prospect remains
intact.
Sentiment remains fragile as global cues take center stage.