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Sensex, Nifty snap 2-week winning streak as oil, yields and Iran risks rise
Brent crude stayed above $87 per barrel and the US 10-year yield hovered near 4.66%, both weighing on investor sentiment.
Indian benchmarks ended lower on 14 August, reversing a two-week winning streak amid concerns about a potential US-Iran peace deal, volatile crude oil prices, rising bond yields, and fears that inflation could flare up, according to LiveMint Markets.
The Sensex fell 71 points, or 0.09%, to close at 78,009.25, while the Nifty 50 declined 30 points, or 0.12%, to finish at 24,366. For the week, the 30-share index dropped 490 points, or 0.62%, and the Nifty 50 fell 205 points, or 0.83%.
Market breadth weakened with underperformance in mid and small caps, as the Nifty Midcap 100 slid 0.53% and the Nifty Smallcap 100 fell 0.69% on the day. For the week, the Midcap 100 gained 0.50%, while the Smallcap 100 declined 0.65%.
The selloff tracked softer global cues, with Brent crude trading above $87 per barrel after US Defense Secretary Pete Hegseth warned Washington could keep a naval blockade of Iranian ports in place indefinitely. LiveMint Markets also cited the US 10-year bond yield staying near 4.66% as a factor pressuring risk appetite, with analysts pointing to a wait for clearer signals on energy prices and global bond yields.
Latest closeWTI crude $95.27 ▲3.4%|Brent $100.98 ▼2.0%|Sensex 73,580.54 ▼1.7%