Sensex Ends Flat At 77,540.83, Nifty Gains Marginally As Crude Oil And US-Iran Tensions Weigh
Mumbai: Indian stock markets ended on a mixed note on Friday as rising crude oil prices, higher global bond yields and tensions between the US and Iran kept investors cautious. The Sensex gained just 3.11 points to close at 77,540.83. The Nifty rose 20.15 points, or 0.08 per cent, to settle at 24,252. Despite the marginal gains, both benchmark indices declined for the second consecutive week,…
Mumbai: On Friday, Indian stock markets closed in a mixed fashion, as climbing crude oil prices, higher global bond yields, and heightened tensions between the US and Iran made investors uneasy. The Sensex remained stagnant at 77,540.83, while the Nifty increased by 20.15 points, or 0.08 percent, to settle at 24,252.
Despite the slight gains, both key indices slipped for the second week in a row, highlighting persistent concerns about global markets and geopolitical risks. Crude oil prices continue to keep investors on edge. Global equities fell after bond yields rose. Rising crude oil prices, due to ongoing US-Iran tensions, dampened investors' appetite for risk.
Higher oil prices pose a challenge for India, given the nation's heavy reliance on imports for its crude needs. Persistent inflation and a weakening rupee could result from a sustained increase in oil prices, raising costs for businesses.
Market participants also remained concerned about elevated global bond yields. The US Treasury's recent attempt to ease pressure on yields proved ineffective due to soaring oil prices and ongoing inflation worries. Mid-cap and small-cap stocks outperformed the broader market. The Nifty MidCap index rose 0.1 percent, whereas the Nifty SmallCap index gained 0.69 percent. Sectors such as Nifty FMCG, Auto, and IT lagged behind the overall market.
The Sensex fell 326 points in the final trading session, while the Nifty stayed below 24,100. The Nifty Metal and Private Bank indices were the primary gainers, aiding in mitigating losses within the benchmarks. Among individual Nifty stocks, Trent, Maruti Suzuki India, and InterGlobe Aviation were among the top losers.
Experts believe that the 24,000–24,200 range serves as an important support level for the Nifty. High put open interest at the 24,000 strike could offer further support. The top 10 firms witnessed a loss of ₹1 lakh crore in market value, with TCS bearing the largest hit. As the week progressed, investors will closely monitor crude oil, global bond yields, and geopolitical events for any new direction.
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