1 week ago
Sensex Ends Flat as Nifty Gains Amid Oil, Iran Tensions
Indian stock markets finished almost unchanged on Friday.
The Sensex moved up only a little, while the Nifty rose slightly more.
However, both indexes fell for the second week in a row.
Investors were worried about rising oil prices and higher bond yields around the world.
Tensions between the United States and Iran also made investors more careful.
Higher oil prices can increase costs for India because it imports much of its crude oil.
Smaller companies performed better than the main market indexes.
Experts said the Nifty could rise toward 24,500–24,600 if it moves above its resistance level.
The Sensex rose 3.11 points to close at 77,540.83, while the Nifty gained 20.15 points, or 0.08%, to settle at 24,252.
Both benchmark indices declined for a second consecutive week despite Friday’s marginal gains.
Rising crude oil prices, higher global bond yields and US-Iran tensions kept investors cautious.
The Nifty MidCap index rose 0.1% and the Nifty SmallCap index advanced 0.69%.
Analysts identified 24,000–24,200 as Nifty support and 24,300–24,400 as immediate resistance.
- Who
- Indian equity-market investors and traders, with the Sensex and Nifty as the main benchmarks.
- What
- The Sensex ended nearly flat while the Nifty posted a marginal gain, though both declined for a second consecutive week.
- Where
- Mumbai, India.
- When
- Friday; the articles do not specify the calendar date.
- Why
- Rising crude oil prices, elevated global bond yields, inflation concerns and tensions between the United States and Iran kept investors cautious.
Key facts
- Sensex close
- 77,540.83, up 3.11 points
- Nifty close
- 24,252, up 20.15 points, or 0.08%
- Weekly performance
- Both benchmark indices declined for the second consecutive week
- Mid-cap performance
- Nifty MidCap rose 0.1%
- Small-cap performance
- Nifty SmallCap gained 0.69%
- Nifty support
- 24,000–24,200
- Nifty resistance
- 24,300–24,400
Quotes
A market expert
Market expert discussing potential Nifty gains
“The elevated global bond yields continue to cause worry in the market. The recent US Treasury’s move to ease the bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears.”
thehansindia.com
“On the upside, this week's high of 24,360 falls within the broader 24,300–24,400 resistance zone, making this the immediate hurdle for the index.”
thehansindia.com
Sources
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