New Delhi, August 22 — Indian equity markets ended a six-day rally in the red today, weighed down by weakness across IT and financial sectors, and heightened caution surrounding global developments. While some stocks posted notable gains, others underperformed significantly.
Key Market Movers:
Texmaco Rail (+2.4%) stood out as one of the day’s strongest performers, buoyed by the announcement of a ₹1 billion order.
Maruti Suzuki (+0.48%) managed modest gains, outperforming its auto sector peers despite a broad market downturn.
In contrast:
Hero MotoCorp (–2%) dropped following news of a leadership reshuffle tied to Hindustan Unilever, which triggered investor caution.
Reliance Industries (–1.08%) underperformed amid low trading volume, closing well below its 52-week high.
NTPC (–0.55%), though down, held up relatively better than several peers in the power sector.
Why the Market Slumped:
Benchmarks were hammered as investors awaited cues from U.S. Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium. Concerns over U.S. tariff announcements on Indian goods, lower expectations of near-term rate cuts, and technical profit-booking further added to selling pressure.
Summary Table:
| Category | Notable Stocks |
|---|---|
| Top Gainers | Texmaco Rail (+2.4%), Maruti Suzuki (+0.48%) |
| Top Losers | Hero MotoCorp (–2%), Reliance (–1.08%), NTPC (–0.55%) |
As markets adjust to evolving global cues and domestic developments, stock-specific stories—like large orders or leadership changes—continue to drive relative performance.
