Mumbai (Maharashtra) [India], August 17 (ANI): The fairness markets prolonged their shedding streak for the fifth consecutive session on Monday, with each benchmark indices closing within the purple as rising crude oil costs continued to weigh on investor sentiment.
The Nifty 50 index closed at 24,287.65, down 78.35 factors or 0.32 per cent, whereas the BSE Sensex ended at 77,728.16, decrease by 281.09 factors or 0.36 per cent.
Vinod Nair, Head of Research, Geojit Investments stated, ‘Energy-led enter price pressures proceed to affect near-term market sentiment. However, stronger-than-expected Q1FY27 earnings, pushed by a mixture of pricing actions and quantity progress, are prone to help earnings upgrades within the coming quarters. While the advantage of low-cost stock aided profitability through the quarter, its sustainability stays a key monitorable, as higher-cost replenishment may constrain margin enlargement in Q2FY27’.
Sectoral indices on the NSE confirmed a combined pattern on the shut. The Nifty IT index declined 1.84 per cent, whereas the Nifty Pharma index fell 0.31 per cent and the Nifty PSU Bank index declined 0.12 per cent.
On the opposite hand, Nifty Auto gained 0.23 per cent, Nifty Media rose 0.42 per cent, Nifty Metal superior 1.39 per cent, whereas Nifty Private Bank gained 0.69 per cent. Among the Nifty 50 shares, Hindalco, Tata Steel, HDFC Life, ONGC, Axis Bank and L&T had been among the many high gainers. The high losers included HCL Tech, Infosys, Sun Pharma, TCS and Nestle India.
Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, stated the markets remained beneath stress regardless of recovering from their intraday lows.
‘Indian fairness markets prolonged their shedding streak for a fifth consecutive session on Monday as elevated crude oil costs continued to weigh on investor sentiment regardless of a restoration from intraday lows,’ he stated.
He stated the broader market tone remained cautious, with crude oil costs persevering with to stay a key concern for Indian equities.
‘While softer U.S. financial knowledge has strengthened expectations of a much less restrictive Federal Reserve, the continued energy in crude oil costs, pushed by the unresolved Gulf battle, stays a major headwind for Indian equities,’ Radhakrishnan stated.
He added that India, as a significant oil importer, stays significantly weak to sustained will increase in vitality costs.
‘As a significant oil importer, India stays significantly weak to sustained will increase in vitality costs, preserving buyers cautious because the benchmark indices method vital technical ranges,’ he stated.
Crude oil costs remained elevated, with Brent crude rising 1.01 per cent to USD 89.42 per barrel on the time of submitting this report.
Gold and silver costs additionally moved larger on Monday. Gold costs rose 0.41 per cent to Rs 1,55,139 per 10 grams for twenty-four karat, whereas silver costs gained 0.56 per cent to Rs 2,37,254 per kg on the time of submitting this report.
Meanwhile, different Asian markets principally ended larger. Japan’s Nikkei 225 gained 0.72 per cent to shut at 69,211, whereas Singapore’s Straits Times rose 0.43 per cent to five,768. Hong Kong’s Hang Seng index gained 1.37 per cent to 25,465, whereas Taiwan’s weighted index superior 0.10 per cent to 45,857. (ANI)