21 August,2026 10:27 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices were trading flat in the positive territory on Friday during the initial dealings as the elevated crude oil prices amid the lingering tensions between US and Iran continues to weigh on investor sentiment.
The 30-share BSE Sensex gained 2.33 points at 77,540.05, while the 50-share NSE Nifty rose 5.95 points at 24, 237.80 during the initial trade.
Despite the market indices rallying on Thursday, there is indecisiveness among the investors according to Shrikant Chouhan, Head Equity Research, Kotak Securities.
On Thursday, the Sensex that had declined for four days, reversed the trend and surged 628.04 points, or 0.82 per cent, to settle at 77,537.72, while the Nifty snapped its seven day losses to soar 153.55 points, or 0.64 per cent to end at 24,231.85, amid softer US Treasury yields that made investors optimistic about emerging markets including India.
From the Sensex constituents, Bharat Electronics, Kotak Mahindra Bank, Power Grid, NTPC, and Tata Steel were among the major gainers in the early trade. InterGlobe Aviation, Hindustan Unilever, Titan, Trent, Ultra Tech Cement were among the laggards during the early trade.
"Global cues have turned cautious, with the Dow falling 1.32 per cent, the S&P 500 declining 0.87 per cent and the Nasdaq losing 1 per cent. Brent crude remains elevated near USD 93 a barrel amid renewed US-Iran tensions," Rajesh Palviya, Head of Research at Axis Securities said.
According to news agency PTI, Brent crude, the global oil benchmark, traded 0.30 per cent lower at USD 93.50 per barrel, while Foreign Institutional Investors (FII) sold equities worth Rs 583.36 crore on a net basis on Thursday.
"Yesterday's rally in the market is unlikely to sustain, given the latest headwinds from Brent crude approaching USD 94 and US bond yields again climbing up. Nifty may come under pressure from profit booking in some large-caps. The weakness in large-caps is likely to sustain constraining a sustained rally in the market," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.
"However, the momentum in the broader market will continue backed by institutional DIIs and FIIs buying and improving fundamentals. Even though large-cap banking stocks are under pressure, NBFCs are on strong wicket backed by strong fundamentals and technical," he added.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded higher, while Japan's Nikkei 225 quoted lower.
(With inputs from PTI)
