3 weeks ago
Sensex, Nifty end flat as oil, Middle East tension weigh
On Monday, 10 August, the Indian stock market barely moved.
The Sensex and Nifty 50 went up just a tiny bit, which is called ending flat.
This means investors were neither very happy nor very worried.
Shares of some companies, like Titan, Bajaj Finance and ICICI Bank, went up a little.
Shares of other companies, like SBI and Reliance, went down a little.
The main reason for the cautious mood was that the price of oil is high.
Oil prices rose by more than 1%, getting close to $85 for a barrel of Brent crude.
Prices went up because Yemen's Houthis started attacking ships again near the Red Sea city of Mocha.
There is also uncertainty because Iran said the US must meet certain conditions before the Strait of Hormuz can be reopened.
When oil gets expensive and there is trouble in the Middle East, people worry that businesses will have to pay more.
India's benchmark Sensex and Nifty 50 indices ended flat on Monday, 10 August, as elevated crude oil prices and Middle East uncertainty kept sentiment cautious.
The Sensex rose 43 points (0.06%) to 78,542, while the Nifty 50 gained 13 points (0.05%) to close at 24,583.80.
Gains in Titan, Bajaj Finance and ICICI Bank were largely offset by losses in SBI and Reliance.
Brent crude jumped over 1% to trade near $85 per barrel after Yemen's Houthis resumed attacks on the Red Sea port city of Mocha.
Tehran reiterated that the US must meet conditions, including compensation and an end to sanctions and military threats, before the Strait of Hormuz is reopened.
- Who
- Indian stock market investors; gains in Titan, Bajaj Finance and ICICI Bank were offset by losses in SBI and Reliance, while Yemen's Houthis and Tehran (Iran) influenced sentiment.
- What
- The Sensex and Nifty 50 ended flat amid elevated crude oil prices and Middle East geopolitical uncertainty.
- Where
- Indian stock exchanges, with geopolitical tensions in the Red Sea region (Mocha, Yemen) and the Strait of Hormuz.
- When
- Monday, 10 August
- Why
- Elevated crude oil prices and Middle East uncertainty, including Houthi attacks near Mocha and Tehran's conditions for reopening the Strait of Hormuz, weighed on market sentiment.
Key facts
- Sensex
- 78,542, up 43 points (+0.06%)
- Nifty 50
- 24,583.80, up 13 points (+0.05%)
- Nifty Midcap 100
- +0.62%
- Smallcap 100
- -0.27%
- Brent crude
- Near $85 per barrel, up over 1%
- Key gainers
- Titan, Bajaj Finance, ICICI Bank
- Key losers
- SBI, Reliance
- Market driver
- Houthi attacks on Red Sea port city Mocha; Strait of Hormuz reopening conditions
Sources
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