Now Reading: Sensex ends higher, Nifty falls for third day on crude jitters
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Sensex ends higher, Nifty falls for third day on crude jitters
Indian stock markets ended mixed on Thursday, with the Sensex rising 113.61 points to 78,079.96 while the Nifty fell 40.10 points to 24,395.85, its third consecutive decline. Elevated crude oil prices and…
The Story in Brief
Indian stock markets ended mixed on Thursday, with the Sensex rising 113.61 points to 78,079.96 while the Nifty fell 40.10 points to 24,395.85, its third consecutive decline. Elevated crude oil prices and geopolitical uncertainty in the Middle East, including a near-blockade of the Strait of Hormuz, kept investors cautious. India's retail inflation accelerated to 4.45% in July, above the RBI's 4% target, driven by fuel and food costs. Foreign institutional investors sold equities worth Rs 1,002.50 crore on Wednesday.
Separately, index options trading volumes slumped 27% after the introduction of a new closing auction mechanism, Bloomberg data shows. The Nifty closed above its key 20-day and 200-day averages, keeping the near-term setup constructive for bulls, according to HDFC Securities.
The Indian Opinion
The usual alarm over a market rout ignores the mixed signals. Sensex gained, Nifty slipped only marginally, and broader indices held ground. Yes, crude and the Strait of Hormuz standoff are real threats, but India's inflation at 4.45% is hardly runaway. The real test is whether Nifty can sustain above 24,265. If it does, the short-term bias stays positive. If it breaks, expect pressure.
Sources (5): livemint.com, rediff.com, thehindubusinessline.com, thehindubusinessline.com (2), ndtvprofit.com
This story was synthesised by AI from the 5 sources linked above.
Updated: this story now draws on 5 sources.
