We begin the day with a sharp slide in global markets. Dow Jones is down 373 points, or 1.08 percent and the S&P 500 ended 1.35 percent lower.
All eyes are on US Fed chairman Jerome Powells speech at Jackson Hole today
Nifty pre-empts the global sell off, closes with 58 point cut, ends below 19,400. It continues to be in a tight range of 19200-19500.
Flows continue to be strong. Both, foreign and domestic investors bought in cash markets on Thursday. Foreign institutional investors (FIIs) bought Rs 1,524 crore in cash, while domestic institutional investors (DIIs) bought Rs 5,796 crore in cash yesterday.
Bajaj Finance is in focus today. Nomura Initiates coverage on Bajaj Finance with a 'buy' rating and a target price of Rs 8,700. Nomura says concerns on Bajaj Finance are overdone and its strong business momentum is likely to continue.