Now Reading: Gift Nifty signals muted start; crude, gold in focus
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Gift Nifty signals muted start; crude, gold in focus
According to Livemint, the Indian stock market is likely to open lower on Friday, 14 August, with Gift Nifty trading around 24,436, a discount of 32 points to the previous close. On…
The Story in Brief
According to Livemint, the Indian stock market is likely to open lower on Friday, 14 August, with Gift Nifty trading around 24,436, a discount of 32 points to the previous close. On Thursday, the Sensex rose 113 points to 78,079.96 while the Nifty 50 fell 40 points to 24,395.85.
Crude oil prices edged higher after the US signalled it could maintain its naval blockade of Iran indefinitely, reviving supply concerns. Brent crude futures rose 0.1% to $87.16 a barrel. Gold prices were largely unchanged after dipping below $4,400 an ounce, with investors assessing the Fed's rate outlook and the Strait of Hormuz situation. The US said it could intensify economic pressure on Iran as ceasefire talks remain stalled.
The Indian Opinion
The media narrative tends to paint every US-Iran tension as an immediate threat to Indian markets, ignoring that oil prices are still set for a weekly gain and the Fed's soft inflation data reduces rate hike fears. The Nifty's 24,350 support held on Thursday, and the market is showing resilience despite global uncertainties. The real test will be whether the Nifty can close above 24,400 in the coming sessions, not what the Gift Nifty suggests at 7:51 AM.
Source: livemint.com
This story was synthesised by AI from the source linked above.
