1 week ago
Indian Markets End Lower Amid Global Uncertainty and Crude Pressures
Indian share prices had a difficult week because investors were worried about global events, expensive oil and pressure in bond markets.
The Sensex and Nifty both finished lower, although some smaller companies performed better.
Foreign investors sold Indian shares, but Indian institutions bought enough to support the market.
The rupee weakened slightly against the dollar.
Gold became more expensive because people often buy it when they feel uncertain or want protection from inflation.
Bitcoin also rose sharply.
Traders are watching events in West Asia, oil prices, US Federal Reserve signals and economic data.
Analysts say 24,000 is an important support level for the Nifty, while 24,500 is an important barrier.
They recommend being selective rather than buying the entire market.
The Sensex fell 468.42 points to 77,540.83, while the Nifty declined 114 points to 24,252, according to the main weekly figures.
Foreign institutional investors sold Rs1,601.65 crore of equities, while domestic institutions invested Rs17,316.34 crore.
Elevated crude prices and geopolitical uncertainty weakened the rupee, which ended 22 paise lower at Rs95.43.
Gold rose to about Rs1.64 lakh per 10 grams, while Bitcoin rallied to $80,000 amid safe-haven demand and regulatory expectations.
Nifty options indicated support near 24,000 and resistance around 24,500, prompting advice for selective, stock-specific buying.
- Who
- Indian investors, foreign institutional investors, domestic institutional investors, traders and the Reserve Bank of India were central to the developments.
- What
- Indian equities declined modestly as global uncertainty, crude prices and bond-market pressure weighed on sentiment, while gold and Bitcoin rallied.
- Where
- Indian financial markets were affected by global developments, including events in West Asia and the United States; the Meta trial is taking place in Oakland, California.
- When
- During the reported week; the Meta trial’s oral arguments began on August 18, according to the article.
- Why
- Investors were responding to geopolitical uncertainty, elevated crude prices, global bond-market pressure and expectations around US monetary policy and economic data.
Critics and Plaintiffs
Defenders and Supporters
FCNR(B) deposit policy
Critics and Plaintiffs
Skeptics described the Reserve Bank of India’s decision to advance the closure of the FCNR(B) deposit scheme by a month as a flawed step, comparing it with earlier sovereign gold bond issuances.
Defenders and Supporters
The Reserve Bank of India described the decision as data-driven and calibrated, saying it reflected India’s strong macroeconomic fundamentals and could strengthen the balance of payments.
Meta’s impact on children
Critics and Plaintiffs
California and other states allege that Meta developed features harmful to children, violated privacy and concealed information about the effects of its products. California’s attorney-general compared the case with the tobacco industry’s legal troubles.
Defenders and Supporters
Meta says it takes its responsibilities to young users seriously and argues there is no clear link between social-media use and ill health. Its lawyers also question why Meta is being singled out when YouTube and TikTok are widely used by young people.
UPI merchant fees
Critics and Plaintiffs
The return of a 0.3% merchant discount rate on UPI payments of Rs2,000 and above could add a cost for merchants and change the economics of digital payments.
Defenders and Supporters
The government has cleared the legal path for MDR by removing zero-MDR protection, and the fee would be distributed among issuing and acquiring banks, payment service providers and merchant-side fintechs.
Key facts
- Sensex
- Closed at 77,540.83, down 468.42 points, or 0.60%, in the main weekly account.
- Nifty
- Closed at 24,252, down 114 points, or 0.46%, in the main weekly account.
- Institutional flows
- FIIs recorded equity outflows of Rs1,601.65 crore, while DIIs invested Rs17,316.34 crore.
- Rupee
- Ended at Rs95.43, down 22 paise, after trading between Rs95.17 and Rs95.44.
- Gold
- The article placed 24-carat gold at about Rs1.64 lakh per 10 grams.
- Nifty levels
- Options data showed support around 24,000 and resistance around 24,500, with 24,350-24,400 described as near-term resistance.
- Conflicting weekly snapshot
- A separate weekly snapshot reported the Sensex at 78,009.25, down 489.92 points, and the Nifty at 24,366, down 204.65 points; it also reported FII purchases of Rs1,228.24 crore and DII investment of Rs9,285.63 crore.
Quotes
Megan O’Neill
Deputy attorney-general for California presenting allegations against Meta in the Oakland trial.
“hook the users, hold them for as long as they can, harvest their data and then hide the truth from the public.”
thehansindia.com
Paul Schmidt
Lawyer representing Meta in the Oakland trial.
“there was no clear link between youngsters’ social-media use and ill health.”
thehansindia.com
Sources
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