Sensex Ends Flat, Nifty Edges Higher as Oil Prices, US-Iran Tensions Weigh on Markets
Mumbai — Indian equity markets ended mixed on Friday, with the Sensex finishing nearly flat and the Nifty posting a modest gain as rising crude oil prices, higher global bond yields and tensions between the United States and Iran kept investors cautious.
The Sensex gained 3.11 points to close at 77,540.83, while the Nifty rose 20.15 points, or 0.08%, to settle at 24,252.00.
Market analysts said the 24,000-24,200 range remains an important support zone for the Nifty, supported by significant Put open interest at the 24,000 strike.
On the upside, the index faces resistance around 24,300-24,400 after reaching a weekly high of 24,360. Analysts said a sustained move above the 24,360-24,400 range could open the way for an advance toward 24,500-24,600.
Despite Friday’s marginal gains, both the Sensex and Nifty posted losses for a second consecutive week, reflecting continued uncertainty over global market conditions and geopolitical risks.
Among individual stocks, Trent, Maruti Suzuki India and InterGlobe Aviation were among the major Nifty laggards.
Broader markets performed somewhat better, with the Nifty MidCap index gaining 0.1% and the Nifty SmallCap index rising 0.69%.
Sectorally, FMCG, auto and information technology stocks underperformed, while metals and private-sector banks were among the stronger performers.
Analysts said investors remained focused on global bond yields, movements in crude oil prices and developments in U.S.-Iran tensions.
Elevated bond yields have continued to pressure sentiment, while attempts by the U.S. Treasury to ease yields have provided limited relief amid higher oil prices and persistent concerns about inflation, market experts said. (Source: IANS)
