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Sensex and Nifty slip after two-week rally as India VIX eases
The Sensex fell 0.1% to 78,009.3 and the Nifty 50 dropped 0.1% to 24,366, as traders weighed US-Iran deal uncertainty, crude oil moves, and higher bond yields.
India's Sensex and Nifty 50 closed lower on Friday, August 14, ending a two-week winning run, as investor sentiment stayed subdued amid uncertainty over a potential US-Iran peace agreement, crude oil price fluctuations, rising bond yields, and concerns about a possible return of inflation, LiveMint Markets reported.
The Sensex fell 71 points, or 0.09%, to settle at 78,009.25, while the Nifty 50 declined 30 points, or 0.12%, to close at 24,366. The Nifty ended the session at 24,366 after opening at 24,361.90, with an intraday high of 24,405.20 and a low of 24,296.80.
Technically, the Nifty 50 finished marginally below its 200-day EMA, indicating resistance from the long-term moving average, while RSI was at 52.21 for neutral momentum. India VIX eased to 11.30 and the PCR stood at 1.00, suggesting a balanced market undertone, according to the report.
Media, Consumer Durables, and IT Services were among the stronger performers, while Financial Services and Pharma were under pressure. Sumeet Bagadia of Choice Broking said the index is likely to keep a sideways bias until a decisive breakout, with support at 24,200 to 24,250 and key resistance at 24,500 to 24,550, and expected the next session range at 24,200 to 24,550. Bank Nifty ended at 57,491.10, down 144.10 points, or 0.25%.
Latest closeWTI crude $82.40 ▲1.4%|VIX 14.25 ▼2.6%|Sensex 78,079.96 ▲0.1%