Now Reading: Indian markets close flat on Middle East oil fears
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Indian markets close flat on Middle East oil fears
Benchmark indices ended lower on Friday, with the Nifty down 0.32% at 24,557 and the Sensex falling 0.59% to 78,491, as a renewed rise in crude oil prices due to tensions around…
The Story in Brief
Benchmark indices ended lower on Friday, with the Nifty down 0.32% at 24,557 and the Sensex falling 0.59% to 78,491, as a renewed rise in crude oil prices due to tensions around the Strait of Hormuz offset gains in auto and tech stocks. Ajit Mishra of Religare Broking flagged the risks from West Asia geopolitical developments and oil price volatility, Livemint reported. Analysts noted that foreign institutional investors turned net sellers of Rs 480 crore on the day, though domestic institutional buyers remained net purchasers for a second straight week. Nifty formed a Doji candlestick pattern, signalling indecision as the index failed to hold above the 24,600 mark. GIFT Nifty futures edged up 0.02% overnight, hinting at a flat start next week.
The Indian Opinion
The over-reliance on analyst soundbites to explain every market wiggle is wearing thin. A single Doji candle on Nifty doesn't guarantee a breakout to 25,000, just as a crude blip doesn't mean war. Investors should focus on actual corporate earnings and domestic macros instead of recycling resistance and support levels. The real test? Whether Nifty can keep above 24,600 for a full week without depending on foreign fund flows.
Sources (10): livemint.com, livemint.com (2), livemint.com (3), timesofindia.indiatimes.com, livemint.com (4), livemint.com (5), ndtvprofit.com, ndtvprofit.com (2), ndtvprofit.com (3), businesstoday.in
This story was synthesised by AI from the 10 sources linked above.
Updated: this story now draws on 10 sources.
