Stock Market Live Updates 21 August 2024: Sensex, Nifty open flat with negative bias; analysts anticipate profit-taking

Sensex, Nifty, Share Prices LIVE: Indian benchmark indices, Sensex and Nifty, opened flat with a negative bias on Wednesday after four days of gains driven by easing U.S. recession fears. In early trade, the BSE Sensex fell by 82.18 points to 80,720.68, while the NSE Nifty declined by 24 points to 24,674.85. Analysts expect profit-taking following the recent rally.

Asian markets also saw a decline, pausing their recent advances. Investors are now focusing on the upcoming U.S. Federal Reserve policy meeting minutes and Chair Jerome Powell’s address later this week for indications on future rate cuts. Shrikant Chouhan, head of equity research at Kotak Securities, advised that despite the bullish overall market sentiment, buying on dips and selling on rallies remains ideal for traders. On Tuesday, foreign institutional investors sold ₹1,458 crore worth of domestic equities, while domestic institutional investors bought ₹2,252 crore worth of shares.