Now Reading: Indian stocks may open lower as crude oil rises
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Indian stocks may open lower as crude oil rises
Indian benchmark indices may open lower on Friday as Brent crude rose about 1.2% to $83.48 a barrel. Gift Nifty traded near 24,647, indicating a weak start, though one LiveMint report described…
The Story in Brief
Indian benchmark indices may open lower on Friday as Brent crude rose about 1.2% to $83.48 a barrel. Gift Nifty traded near 24,647, indicating a weak start, though one LiveMint report described the signal as pointing to a largely flat opening. Asian markets were mixed, while Wall Street ended lower after investors booked profits.
The Nifty 50 gained 0.05% to close at 24,636 on Thursday. The Sensex rose 0.26% to 78,785, according to LiveMint, while another LiveMint report put its close at 78,954.76 after a 0.48% rise. Analysts cited by LiveMint see Nifty support around 24,300 to 24,450 and resistance near 24,800. SBI, Titan, Ola Electric, Hindalco and Oil India are due to report quarterly results.
The Indian Opinion
The lazy bull case says a few strong sessions guarantee a run to 25,000. The equally dramatic bear case treats every rise in oil as a market breakdown. Neither fits the evidence. Domestic indices have held gains, but crude, Middle East developments and company earnings can quickly change sentiment. Investors should watch whether Nifty holds the 24,300 to 24,450 support zone and whether Brent stays above $83 a barrel.
Sources (4): livemint.com, livemint.com (2), livemint.com (3), ndtvprofit.com
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
