Sensex Sheds 539 Points, Nifty Slides 116 Points As Hormuz Tensions Hurt Sentiment
Mumbai: Indian shares ended lower on Thursday as tension around the Strait of Hormuz weakened investor confidence and kept risk appetite subdued. Benchmark indices retreat The Sensex dropped 539 points, or 0.70 percent, to close at 76,933. The Nifty declined 116 points, or 0.48 percent, and settled at 24,090. The Nifty Bank index lost 273 points, or 0.47 percent, finishing at 57,509. Uncertainty…
Mumbai witnessed a decline in Indian shares on Thursday, as geopolitical tensions surrounding the Strait of Hormuz overshadowed market sentiment. The benchmark indices, Sensex and Nifty, both experienced a drop, closing the day at 76,933 and 24,090 respectively. The Nifty Bank index experienced a loss of 273 points, while the Nifty Midcap 100 and NSE Smallcap 100 also saw a slight decline.
The only sectors to register marginal gains were private banks, pharmaceutical companies, and consumer durables. The Nifty, in particular, broke below its rising channel on the daily chart, indicating a stronger selling pressure and the weakening near-term trend. Investors are currently focused on the forthcoming remarks from the US Federal Reserve chair at the Jackson Hole speech, which may provide insights into inflation, interest rates, and future policy decisions, potentially shaping global market sentiment.
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