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Indian stocks finished flat as crude oil jumped and Middle East risks rose
Brent crude rose 2.9% to $85.96 a barrel, while the rupee ended nearly flat at 95.21 per dollar.
LiveMint Markets said Indian equities closed flat on 10 August, with the Sensex up 43 points, or 0.1%, to 78,542, and the Nifty 50 up 13 points, or 0.1%, to 24,583.8.
The market’s narrow trading range reflected cautious sentiment linked to geopolitical tensions in West Asia, as rising crude oil prices and uncertainty around the Strait of Hormuz capped upside even as corporate earnings provided some support, LiveMint Markets wrote.
Sector performance was mixed, with Nifty Midcap 100 rising 0.6% and Smallcap 100 falling 0.3%. LiveMint Markets reported the Nifty PSU Bank index slipped nearly 2%, while Nifty Realty gained 1.35% and IT stocks rose 0.27%.
Outside equities, the outlet noted the rupee closed nearly flat at 95.21 per dollar, while Brent crude surged 2.88% to $85.96 a barrel, keeping inflation concerns in focus. It also flagged 24,750 to 24,800 as a key resistance zone for the Nifty in the near term.
Latest closeWTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%|Sensex 78,499.17 ▼0.6%