Now Reading: Sensex, Nifty edge up as oil, US cues keep gains in check
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Sensex, Nifty edge up as oil, US cues keep gains in check
Indian benchmark indices opened flat to marginally higher on August 21, with the Sensex edging up 54 points to 77,592 and the Nifty climbing 17 points to 24,249. The gains came despite…
Indian benchmark indices opened flat to marginally higher on August 21, with the Sensex edging up 54 points to 77,592 and the Nifty climbing 17 points to 24,249. The gains came despite elevated crude oil prices near $93.50 a barrel and a sharp fall in US markets overnight, which made investors cautious.
Kotak Mahindra Bank, HDFC Bank and ICICI Bank were among the top contributors, while Infosys, TCS and JSW Steel lagged. Foreign institutional investors turned net buyers of Rs 6,535 crore in Indian financial stocks during the first half of August, a sharp reversal from Rs 2,669 crore in outflows in late July.
Brent crude traded 0.30% lower at $93.50 a barrel, after President Donald Trump's comments on an 'economic war' against Iran revived concerns over oil-driven inflation. Analysts expect the range-bound market to continue as long as crude prices stay elevated, with the next trigger likely from US inflation data due next week.
Indian Opinion Analysis
All three sources report largely uniform facts on the day's marginal gains, with both the NDTV Profit and Times Now articles leading with the flat-to-positive open and The Hindu adding context on crude oil and US-Iran tensions. The Hindu's framing is more cautious, highlighting the early dip and geopolitical headwinds, while Times Now focuses on sectoral rotation and FII buying. The measured read: benchmark indices are range-bound near 24,240-24,250 as elevated oil and bond yields cap upside, but broad market momentum and institutional flows support the floor. Watch Brent crude at $93.50, any spike above $95 could trigger renewed selling in large-caps.
Coverage: 3 sources, 3 neutral
Sources (3): ndtvprofit.com (neutral report), thehindu.com (neutral report), timesnownews.com (neutral report)
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
