Market Cues: Jackson Hole, GST Reforms Among Other Factors To Watch Today

Domestic benchmark indices, in the previous session, extended their winning streak for the sixth session in a row amid weekly expiry. Gains were led by select heavyweights in the banking, pharma and energy sector.

The Nifty 50 ended the session at 25,083.75, rising 33.2 points or 0.13 per cent, while the Sensex settled at 82,000.71, up 142.87 points or 0.17 per cent.

However, broader market action largely remained range-bound and showed a mixed trend, as investors turned to profit booking after a recent rally.

Looking ahead to the session on August 22, 2025, a slew of factors are expected to influence the action on the Dalal Street. Here's a quick look at these.

Key Market Cues For Today

Crude Oil Prices Today

Crude oil prices took a breather after a two-day rally, as Brent Crude futures slipped around 0.2 per cent to $67.55 per barrel this morning. Likewise, WTI Crude futures too traded lower by 0.16 per cent to quote at $63.42 per barrel.

Gold Prices Today

Gold price on the Multi Commodity Exchange (MCX) traded lower by 0.14 per cent at Rs 99,293 per 10 grams.

The internationally traded COMEX Gold too quoted lower by 0.18 per cent at $3,375.5 per ounce.

US Stock Market

The benchmark indices in the US closed lower overnight as investors were cautious ahead of US Federal Reserve chair Jerome Powell's speech at the three-day annual Jackson Hole Economic Symposium.

The Dow Jones ended 0.34 per cent lower, the S&P 500 closed 0.40 per cent in red, and the tech-heavy Nasdaq Composite settled 0.34 per cent lower.

Asian Markets

Asian shares largely traded in the positive in early session today.

China's SSE Composite traded higher by 0.67 per cent, the Hong Kong-based Hang Seng was up by 0.32 per cent, and South Korea's KOSPI traded higher by more than 0.65 per cent. However, Japan's Nikkei 225 veered between gains and losses, trading in a tight range.

Fundamental Factors To Watch Today

Fresh Concerns Over India-US Trade Relations

US President Donald Trump's administration's trade advisor Peter Navarro has launched fresh attacks on India, accusing the country of indirectly supporting Russia's war effort in Ukraine.

Navarro alleged that India is acting as a “laundromat for the Kremlin” by buying Russian crude oil at discount, refining it, and exporting the finished products at premium prices to global markets.

This comes just days after Navarro labelled India the “Maharaja of tariffs,” while backing Trump's 50 per cent tariffs on New Delhi.

He also warned that the additional 25 per cent tariffs will come into effect from August 27.

Powell’s Speech at Jackson Hole

US Fed chair Powell is set to deliver his much-anticipated speech later today at the Jackson Hole Economic Symposium. This would mark his eighth and the final address at the event before his term ends in May 2026.

World’s top central bankers, economists, and academicians have gathered at the three-day event in Jackson Hole, Wyoming, which started on August 21.

Market participants will be looking for forward guidance on rate cuts, particularly focussing on the timing and magnitude of cuts, if there will be any.

Historically, Powell’s Jackson Hole speeches have tended to push US bond yields higher, according to Reuters. Any hawkish tone this time around could strengthen the US dollar and weigh on foreign inflows into emerging markets like India, while a dovish surprise could do the opposite.

GST Reforms

Investors will be paying close attention to the ongoing discussions and recent approvals related to GST reforms, as these changes are starting to impact specific sectors.

In the previous session, insurance stocks gained after reports emerged that the  government has proposed to exempt health and life insurance premiums from Goods and Services Tax (GST), which currently attracts 18 per cent GST.