Reliance board is expected to approve a 1:1 bonus issue today; rubber price cut by January predicted

For Nifty to maintain a positive trend, it must surpass the intraday resistance level of 25,230. 

Global turbulence did not reflect on Indian markets as strongly, indicating that foreign funds no longer drive the Indian markets.

Sensex closed 203 points, or 0.25 percent, lower at 82,352.64; the Nifty 50 closed with a loss of 81 points, or 0.32 percent, at 25,198.70. The BSE Midcap index also declined by 0.12 percent, but the Smallcap index bucked the trend, rising 0.3

The primary reason for this resilient response is the active participation of domestic funds and investors.

Bloodbath in the Western markets; India bracing for a crash; crude oil dips below $74 amid recession fears; rupee weakens

The Nifty remains above both short-term and long-term moving averages.

`The markets have been hitting new highs in the recent upsurge; investors are now a bit sceptical about taking further bullish bets.'

Kerala-based tyre manufacturer, Tolins Tyres, is launching its IPO on September 9. The company seeks to raise Rs 230 crore at a price band of Rs 215-226. The IPO includes both fresh issue and offer for sale.

While the main indices dipped, mid-cap and small-cap indices saw an uptick.