Indian Equity Markets
Indian equities enter September after a volatile August, with the Nifty trading around 24,000–24,150 and the Sensex closing down 0.4% at 76,957, pressured by US– Iran tensions, a hawkish Fed stance, and a nearly 3% oil price surge. FIIs sold ₹7,986 crore on the last day, while DIIs bought ₹4,589 crore, helping cushion the fall. A key structural change was the introduction of the Closing Auction Session (CAS) for eligible stocks/derivatives from August 3, altering how closing prices are determined.
Gold – Recovery and renewed safe-haven demand
According to the World Gold Council, international gold prices rose sharply in early August, while domestic Indian gold prices also recovered significantly. The WGC noted that international gold rose 9% in the first two weeks of August, while Indian prices gained nearly 7%, although INR appreciation moderated part of the domestic increase More recent global trading has seen gold around US$4,600 per ounce, supported by: A weaker dollar Concerns about US fiscal sustainability Geopolitical uncertainty Central-bank and ETF demand Uncertainty around the future path of US interest rates The World Gold Council also reported positive ETF flows in August, with collective holdings rising by 23 tonnes.
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