14 August,2026 05:05 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
Domestic equity benchmark indices declined on Friday amid a spike in crude oil prices, as concerns grew over potential supply disruptions after the US threatened an indefinite naval blockade of Iran.
"Indian benchmark indices opened on a weak note and remained in a narrow range throughout the session, with lack of participation and continued profit booking keeping the indices under pressure. Market participants remained indecisive, resulting in subdued trading activity and preventing the benchmark indices from turning positive despite intermittent buying interest," Bajaj Broking Research said.
The 30-share BSE Sensex dropped 70.71 points, or 0.09 per cent, to settle at 78,009.25. The 50-share NSE Nifty declined 29.85 points, or 0.12 per cent, to end at 24,366, thus extending its losses for the fourth straight day.
"Domestic equities traded on a weak note on Friday, with the Nifty 50 declining 0.1 per cent to close at 24,366, although value buying at lower levels, a firmer rupee and easing volatility helped limit the downside," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
From the Sensex pack, Bharti Airtel, Adani Ports, ICICI Bank and Titan were among the gainers, while Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India and HCL Tech were among the major laggards.
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.
Brent crude, the global oil benchmark, went up by 0.17 per cent to USD 87.15 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 510.69 crore on Thursday, according to news agency PTI.
"A sideways trend persisted in the market as investors awaited greater clarity on the outlook for energy prices and global bond yields. However, the market witnessed a recovery from the day's lows, led by consumer durables and discretionary consumption stocks, supported by improving demand trends," Vinod Nair, Head of Research, Geojit Investments said.
Better-than-expected corporate earnings during the quarter, along with supportive domestic factors that could drive upward revisions to FY27 earnings estimates, continue to create opportunities for a bottom-up stock selection approach. Additionally, the stability in the rupee, moderation in India's 10-year bond yield, and a gradual improvement in FII participation are providing support to the domestic macro-environment and supporting the inflation trajectory," he added.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite index settled higher, while Hong Kong's Hang Seng index declined.
(With inputs from PTI)
