18 hrs ago
Nifty Defends 24,000 as Brent Crude Surges Past $95
The Nifty 50 is trying to stay above the important 24,000 level.
It finished Tuesday above that mark, but it had traded below it earlier in the session.
Analysts say falling below 24,000 could make the market drop toward 23,800.
The Nifty Bank index also lost the gains it made on Monday.
Oil prices rose above $95 per barrel, which can worry investors.
Global bond markets were also under pressure.
Fighting between the United States and Iran had resumed in West Asia, adding to market concerns.
Still, 100 stocks reached their highest prices in a year on Tuesday.
Investors were continuing to focus on individual stocks and new share offerings.
Nifty 50 closed above 24,000 after Tuesday’s closing session, though its 3:15 PM level was below that mark.
Analysts warn that a move below 24,000 could push the Nifty toward 23,800.
Nifty Bank reversed Monday’s gains and returned to the lower end of its 57,000–58,000 range.
Brent crude rose above $95 a barrel as global bond markets sold off.
Despite weak sentiment, 100 stocks reached 52-week highs on Tuesday and primary-market activity remained strong.
- Who
- The Nifty 50, Nifty Bank, market bulls, analysts and individual stocks.
- What
- The Nifty is attempting to defend 24,000 amid rising oil prices, bond-market selling and geopolitical concerns.
- Where
- The stock market; the article does not specify a particular exchange location.
- When
- Tuesday’s trading session and the following mid-week session.
- Why
- Investor sentiment was pressured by Brent crude rising above $95, global bond-market selling and resumed US-Iran hostilities in West Asia.
Key facts
- Nifty support level
- 24,000
- Possible downside
- A break below 24,000 could open the way toward 23,800, according to analysts.
- Nifty Bank range
- 57,000–58,000
- Brent crude
- Above $95 a barrel
- 52-week highs
- 100 stocks reached 52-week highs on Tuesday.
- Market activity
- Stock-specific activity and primary-market activity remained strong despite weak sentiment.
- Stocks to watch
- Oil-sensitive stocks, Reliance Industries, NMDC and Coal India.
Sources
Related news
Nifty futures hint negative start; Brent surges to $91
Indian Markets Seek Recovery as West Asia Concerns Persist
Nifty futures hint muted start, Brent crude above $84
Indian Stocks Face Pressure as Nifty Targets 24,000 Support
GIFT Nifty Hints Negative Start; Brent Crude Above $83.50
Nifty Holds 24,000 Focus as Weekly Expiry Takes Spotlight
Indian Stocks Extend Three-Day Losing Streak as Oil Rises
Rijiju Rebukes Congress as GDP Numbers Face Political Challenge
Gold Futures Fall Seventh Day Amid US-Iran Tensions
Sensex, Nifty Plunge as West Asia Tensions Lift Oil Prices
