Stock Markets Flat: Geopolitical Uncertainty, Oil Prices
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Indian stock markets (Sensex, Nifty) closed flat Thursday due to geopolitical uncertainties, fluctuating oil prices, and profit-taking. IT shares gained.
Mumbai, Jul 16 (PTI) Benchmark indices Sensex and Nifty closed almost unchanged on Thursday, as profit-taking in blue-chip stocks such as HDFC Bank and Reliance Industries offset gains in IT shares amid geopolitical tensions.
The 30-share BSE Sensex edged up 1.44 points to settle at 77,186.87. During the day, it climbed 394.26 points, or 0.51 per cent, to 77,579.69 but pared gains towards the end of the session.
The 50-share NSE Nifty dipped 5.75 points, or 0.02 per cent, to end at 24,072.75.
Fluctuating oil prices and weak Asian market trends also weighed on domestic equities, according to an expert.
Among Sensex shares, InterGlobe Aviation, HCL Technologies, Bajaj Finance, Maruti, Mahindra & Mahindra and Tech Mahindra were the major winners.
Eternal, Bharat Electronics, Bajaj Finserv, HDFC Bank and Axis Bank were among the laggards.
Brent crude, the global oil benchmark, dipped 0.39 per cent to USD 84.62 per barrel.
In Asian markets, South Korea's Kospi tanked 6.37 per cent. Japan's Nikkei 225 index and Shanghai's SSE Composite index also settled lower, while Hong Kong's Hang Seng index ended higher.
"Indian equities concluded largely subdued as investors remained cautious amid geopolitical uncertainties, fluctuating oil prices, and weak Asian market trends," said Vinod Nair, Head of Research, Geojit Investments Limited.
Meanwhile, cooling US inflation eased rate concerns and offered downside support, he added.
Markets in Europe were trading lower. US markets ended higher on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 735.83 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex climbed 130.49 points, or 0.17 per cent, to settle at 77,185.43. The Nifty went up 26.45 points, or 0.11 per cent, to end at 24,078.50.
The 30-share BSE Sensex edged up 1.44 points to settle at 77,186.87. During the day, it climbed 394.26 points, or 0.51 per cent, to 77,579.69 but pared gains towards the end of the session.
The 50-share NSE Nifty dipped 5.75 points, or 0.02 per cent, to end at 24,072.75.
Fluctuating oil prices and weak Asian market trends also weighed on domestic equities, according to an expert.
Among Sensex shares, InterGlobe Aviation, HCL Technologies, Bajaj Finance, Maruti, Mahindra & Mahindra and Tech Mahindra were the major winners.
Eternal, Bharat Electronics, Bajaj Finserv, HDFC Bank and Axis Bank were among the laggards.
Brent crude, the global oil benchmark, dipped 0.39 per cent to USD 84.62 per barrel.
In Asian markets, South Korea's Kospi tanked 6.37 per cent. Japan's Nikkei 225 index and Shanghai's SSE Composite index also settled lower, while Hong Kong's Hang Seng index ended higher.
"Indian equities concluded largely subdued as investors remained cautious amid geopolitical uncertainties, fluctuating oil prices, and weak Asian market trends," said Vinod Nair, Head of Research, Geojit Investments Limited.
Meanwhile, cooling US inflation eased rate concerns and offered downside support, he added.
Markets in Europe were trading lower. US markets ended higher on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 735.83 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex climbed 130.49 points, or 0.17 per cent, to settle at 77,185.43. The Nifty went up 26.45 points, or 0.11 per cent, to end at 24,078.50.
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