Stock market benchmarks, the Sensex and the Nifty 50, ended in the red on Friday, 14 August, snapping their two-week winning streak, as uncertainties over a US-Iran peace deal, volatile crude oil prices, rising bond yields, and concerns over inflation flare-up weighed on sentiment.
The Sensex declined 71 points, or 0.09%, to end at 78,009.25, while the Nifty 50 ended at 24,366, down 30 points, or 0.12%. The mid and small-cap segments underperformed; the Nifty Midcap 100 index dropped 0.53%, while the Nifty Smallcap 100 index fell 0.69%.
For the week, the 30-share pack dropped 490 points, or 0.62%, while the Nifty 50 declined by 205 points, or 0.83%. On the other hand, the Nifty Midcap 100 climbed 0.50%, while the Smallcap 100 dropped 0.65% for the week. Weak global cues weigh on sentimentThe domestic market ended lower, tracking weak global cues.
Elevated oil prices, rising bond yields, and uncertainties over a potential US-Iran deal continue to weigh on investors' risk appetite. Brent crude prices traded above the $87 per barrel as US Defense Secretary Pete Hegseth on Thursday warned that Washington can continue with its naval blockade of Iranian ports "indefinitely" and for as long as needed.
The US 10-year bond yield remained near 4.66%, putting pressure on emerging-market equities."A sideways trend persisted in the market as investors awaited greater clarity on the outlook for energy prices and global bond yields," said Vinod Nair, Head of Research, Geojit Investments.(This is a developing story.
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