Banking, Metal Stocks Drag Markets; Sensex Down 287 Points, Nifty Below 25,000

Markets Set for Cautious Start as Investors Eye Powell’s Speech.

Indian stock markets are likely to open subdued on Friday, tracking mixed global cues, with investors awaiting US Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium.

At 8:00 AM, GIFT Nifty futures were down 67.5 points at 25,054.

Asian markets traded largely higher—South Korea’s KOSPI rose 1.06 per cent, Hong Kong’s Hang Seng gained 0.33 per cent, and Japan’s Nikkei 225 edged up 0.13 per cent. Australia’s ASX 200, however, slipped 0.11 per cent.

Overnight, US equities ended lower ahead of Powell’s address. The S&P 500 fell 0.4 per cent, the Nasdaq Composite declined 0.34 per cent, and the Dow Jones dropped 0.34 per cent.