Stock markets on Thursday ended the trading day in a narrow range after a weak session of trade. Both the benchmark indices ended the trading day at mixed. The Nifty declined 0.16 percent and closed at 24,395.85 and the Sensex gained 0.15 percent and closed at 78,079.96. The Indian rupee closed at 95.44 to the dollar versus Wednesday’s close of 95.33 to the dollar.
Sectorally, the market remained mixed, with selective buying in some segments offset by weakness in others, reflecting cautious investor sentiment. Analysts said limited liquidity, muted mutual fund inflows, elevated crude oil prices and geopolitical tensions continued to weigh on equities. Persistent FII selling also kept gains in check, prompting investors to remain selective amid near-term uncertainties. Brent Crude oil prices traded below 88 dollars per barrel (at the time of filing this copy).
G. Chokkalingam Head of Research at Equinomics Research told Times Now Digital, “lack of adequate liquidity is the major concern. IPO boom is continuing which is competing liquidity available to the secondary markets. Inflow into equity mutual funds is also down last month. Crude oil has also been firm which has .
“Elevated crude oil prices, driven by the continuing US-Iran standoff over the Strait of Hormuz, remain the primary overhang for domestic equities and are likely to keep investor sentiment measured,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm had earlier told PTI. “Although Brent Crude has eased modestly to below USD 89 per barrel, the unresolved situation in the Strait of Hormuz continues to keep the geopolitical risk premium in energy markets elevated,” Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a research analyst firm had earlier told PTI. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,002.50 crore on Wednesday, according to exchange .