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India stocks rebound after seven straight losing days
The Nifty Smallcap 100 rose 0.67% and the Nifty Midcap 100 gained 0.50% as crude stayed elevated amid US-Iran tensions.
India’s benchmark stocks rebounded on Thursday, Aug. 20, after a seven-day losing streak, with the Nifty 50 ending 0.55% higher at 24,211 and the Sensex rising 0.75% to close at 77,488, according to LiveMint Markets.
The gain was supported by buying in banking and NBFC stocks, alongside strength in FMCG and technology shares, while most sectoral indices finished in the green except chemicals.
Among broader market gauges, the Nifty Smallcap 100 climbed 0.67% and the Nifty Midcap 100 added 0.50%, and the media sector led, surging 2.17%. Realty, FMCG, technology, cement, and consumer durables also advanced, with gains ranging from 0.65% to 1.66%.
Market sentiment was tempered by renewed US-Iran tensions, after US President Donald Trump said the country was not in talks with Iran and threatened to bomb Oman if it interfered with the US blockade in the Strait of Hormuz. LiveMint Markets reported that Brent crude moved toward $93 per barrel and had gained more than 4% for the week, helping keep crude-linked costs high as the Indian rupee settled up only 3 paise at 95.70 per US dollar.
Balrampur Chini Mills was the top performer, jumping 18% in its biggest single-day gain in 18 years after the government tightened sugar stockholding limits ahead of the festive season, while Netweb Technologies rose another 7% to ₹5,419.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|Sugar $16.60 ▼1.3%