Now Reading: Sensex, Nifty end winning streak on geopolitical worries, oil prices
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Sensex, Nifty end winning streak on geopolitical worries, oil prices
Sensex, Nifty end winning streak on geopolitical worries, oil prices
The BSE Sensex fell 70.71 points (0.09%) to close at 78,009.25 and the Nifty 50 declined 29.85 points (0.12%) to 24,366 on August 14, breaking a two-week winning run. Elevated Brent crude…
The Story in Brief
The BSE Sensex fell 70.71 points (0.09%) to close at 78,009.25 and the Nifty 50 declined 29.85 points (0.12%) to 24,366 on August 14, breaking a two-week winning run. Elevated Brent crude prices near $87 a barrel and the prolonged US-Iran impasse weighed on sentiment. The Nifty fell for a fourth consecutive day. Weekly losses stood at 0.62% for the Sensex and 0.83% for the Nifty.
Foreign investors sold equities worth Rs 511 crore on Thursday, exchange data showed. Among Nifty 50 stocks, Tata Motors Passenger Vehicles dropped 4.3% after a profit slump, while Apollo Hospitals and Bharti Airtel gained. Most sectoral indices ended lower, with Nifty Pharma and Metal falling over 0.5%. Markets in Asia were mixed.
The Indian Opinion
Market commentary has settled into a lazy script: blame all weakness on US-Iran tensions and oil. Yet crude has barely moved from last week's levels, and the Nifty's intraday low of 24,266 held for two consecutive sessions, hardly a rout. The real story is earnings divergence: Tata Motors plunged 80% while LG Electronics India jumped 9.6% on strong results. Watch whether the Nifty can defend 24,250 this week; that single level will test whether the 'geopolitical risk' narrative is justified or just a convenient headline.
Sources (4): timesnownews.com, thehindubusinessline.com, rediff.com, thehindu.com
This story was synthesised by AI from the 4 sources linked above.
Updated: this story now draws on 4 sources.
