14 August,2026 10:15 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
Domestic benchmark market indices declined marginally in the morning trade on Friday as persisting geopolitical tensions in West Asia, the elevated crude oil prices, and the foreign investor outflows dented investor sentiment.
During the initial trade, the 30-share BSE Sensex declined 304.58 points or 0.39 per cent to 77,775.38. The 50-share NSE Nifty slid 72.75 points or 0.30 per cent to 24,323.10.
According to Shrikant Chouhan, Head Equity Research, Kotak Securities the market has formed a small bearish candle, which indicates indecisiveness among investors.
"The range bound nature of the market is likely to continue in the near-term. Nifty has been consolidating between 23800 and 24400 without any triggers for a breakout above the upper band or a breakdown below the lower band. Nifty was poised for a breakout above the upper band, but this was foiled by spurt in crude to above USD 91 triggered by the absence of an expected deal between US and Iran," VK Vijayakumar, Chief Investment Strategist, Geojit Investments said.
According to Bajaj Broking Research this current breather should be used to accumulate quality stocks.
On Thursday, the market indices ended on a mixed noted due to the geopolitical uncertainties. The Sensex ended in the positive territory, as it advanced 113.61 points, or 0.15 per cent, to settle at 78,079.96. However, the Nifty dipped 40.10 points, or 0.16 per cent, to end at 24,395.85, extending its losses for the third straight day.
From the Sensex pack, barring Eternal, Titan, Bajaj Finance all the stocks were trading low in the initial deals. Tech Mahindra, Ultra Tech Cement, Axis Bank, Tata Steel, Power Grid were the major laggards.
"Now Brent crude has cooled off to below USD 87, which is a mild positive for the market. Even though FPI selling has tapered out and they had turned buyers recently, a clear trend in FII activity is yet to emerge. Major activity is now centred around the mid and small-cap space. This trend is likely to continue. Select private sector banks offer value buying opportunities for the long-term," Vijayakumar said.
According to news agency PTI, Brent crude, the global oil benchmark, was trading higher by 0.16 per cent at USD 87.21 per barrel in futures trade, while foreign institutional investors (FII) offloaded equities worth Rs 510.69 crore on a net basis on Thursday.
In the Asian markets, South Korea's Kospi and Japan's Nikkei 225 traded higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index quoted lower.
(With inputs from PTI)
