Now Reading: Sensex, Nifty Open Flat as Oil, Hormuz Talks Guide Trade
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Sensex, Nifty Open Flat as Oil, Hormuz Talks Guide Trade
The Sensex opened at 78,782.43 and the Nifty at 24,641 on Thursday, August 6, as investors tracked global signals and developments around the Strait of Hormuz. The rupee was nearly unchanged at…
The Story in Brief
The Sensex opened at 78,782.43 and the Nifty at 24,641 on Thursday, August 6, as investors tracked global signals and developments around the Strait of Hormuz. The rupee was nearly unchanged at Rs 95.13 to the dollar, against Wednesday’s close of Rs 95.12. Sectoral indices moved in both directions during early trade, Times Now News reports.
Crude prices continued to fall as Iran-Oman talks raised hopes of a temporary US-Iran agreement that could restore commercial shipping through the oil route. Times Now News cited G Chokkalingam of Equinomics Research as saying crude had dropped more than 22% in two weeks. On Wednesday, the Sensex gained 0.19% while the Nifty slipped 0.04%, despite the RBI’s decision to keep its repo rate unchanged.
The Indian Opinion
The easy story is that falling oil will automatically lift Indian shares, while the opposing claim is that every West Asia risk will trigger a market collapse. Neither fits the evidence so far. Wednesday’s near-flat finish and Thursday’s muted opening show investors are weighing several forces, including crude, the rupee and domestic demand. The real test is whether oil stays lower and foreign buying returns, not whether one session turns green or red.
Sources (2): timesnownews.com, timesnownews.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
