Markets volatile, but resilient

Peace talks, DIIs save the day

- KISHOR KADAM & ANANYA GROVER Mumbai, August 7

THE BENCHMARK INDICES rebounded in the last hour of the trading session, after almost a percentage point drop in the initial stages, on hopes that US President Donald Trump will soften his stand on the total tariff of 50% imposed on India. With Trump expected to meet the Russian and Ukraine Presidents for peace talks, there are hopes that things will improve.

In addition, domestic institutional investors (DIIs) provided crucial support, buying shares worth ₹10,864.04 crore, while foreign portfolio investors (FPIs) sold shares worth ₹4,997.19 crore, according to provisional data.

Arun Kejriwal, founder of Kejriwal Research and Investment Services, noted: "There was institutional support in the market, given the sensitivity of the event. A lot is expected to unfold in the next 10 days, so the volatility will remain elevated."

The Sensex dropped 732.70 points, or 0.91%, to hit an intraday low of 79,811.29. However, it recovered sharply in the latter half, rising 811.97 points, or 1.02%. The Sensex ended the day at 80,623.26, up 79.27 points, snapping a two-day losing streak.