Sensex, Nifty Open Flat as Middle East Tensions Keep Crude Above $100
Crude above $100 a barrel and weak global cues left market breadth negative, with 2,079 NSE stocks declining against 1,466 advancing.
- On Thursday, Indian benchmark indices Sensex and Nifty opened mixed as Brent crude prices climbed above USD 100 a barrel amid negative global cues and widening Middle East tensions.
- Escalating conflict in the Middle East continues to drive crude prices higher, creating supply concerns that ripple through global equity markets and dampen investor sentiment.
- Market breadth remained negative in early trade, with 2,079 stocks declining against 1,466 advancing on the NSE; NTPC led gainers rising 0.90 per cent, while ICICI Bank fell 0.49 per cent.
- Asian stocks mirrored Wall Street's weakness, with Hong Kong's Hang Seng dropping 1.48 per cent, South Korea's Kospi falling 0.81 per cent, Japan's Nikkei 225 declining 0.70 per cent, and Shanghai's SSE Composite losing 0.35 per cent.
- Technical Research Analyst Hitesh Tailor of Choice Broking Private Limited cautioned, "The overall bias remains weak, with the broader trend still favouring sellers," warning that recovery faces resistance.
19 Articles
19 Articles
Sensex, Nifty Edge Up in Green Despite Brent Crude Breaching USD 100 Mark
Get latest articles and stories on Business at LatestLY. Indian benchmark indices open in the green on Thursday despite international Brent crude prices breaching the USD 100 per barrel mark amid rising geopolitical tensions. Business News | Sensex, Nifty Edge Up in Green Despite Brent Crude Breaching USD 100 Mark.
Sensex trades flat, Nifty near 23,450 as oil prices top $100 a barrel. What’s ahead?
Thursday marked a mixed start for Indian benchmark indices in light of previous losses. The Sensex dipped, while the Nifty edged up slightly. The performance across broader markets reflected this divergence, with midcaps declining and smallcaps rising. Higher crude oil prices may challenge energy-sensitive sectors, while defensive sectors, particularly FMCG and pharmaceuticals, are expected to remain robust.
GIFT Nifty flat, signals muted start for Sensex, Nifty; Brent above $101, Asian selloff weigh on sentiment
GIFT Nifty suggests the domestic market could begin around flat after Wednesday's sharp fall. However, with Brent above $101, Asian equities under pressure, US Treasury yields elevated and crucial US inflation data ahead, the broader setup remains cautious.
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