Noida, June 11, (APAC Media): Indian equity benchmarks ended Sensex and Nifty lower on Thursday, snapping a two-session winning streak, as investors remained cautious amid global uncertainty and mixed market cues.
The NSE Nifty 50 closed 53.36 points, or 0.24%, lower at 23,161.70, while the BSE Sensex declined 150.73 points, or 0.21%, to settle at 73,832.65.
Market sentiment remained subdued as traders monitored developments surrounding US-Iran tensions and their potential impact on global energy markets.
However, crude oil prices retreated from earlier highs as investors reassessed geopolitical risks and supply concerns.
West Texas Intermediate (WTI) crude for July delivery fell 0.5% to $89.57 per barrel, while Brent crude futures for August delivery declined 0.67% to $92.48 per barrel.
Market participants closely tracked developments involving the United States and Iran, with concerns over potential disruptions to global oil supplies weighing on sentiment.
Global crude prices advanced after reports of heightened tensions in the region, raising fears of supply constraints through key shipping routes. Higher oil prices are seen as a major concern for India, which relies heavily on crude imports to meet its energy requirements.
Analysts said the rise in crude prices could increase inflationary pressures and impact corporate profitability if sustained over a longer period.
The development also prompted investors to trim exposure to riskier assets and adopt a wait-and-watch approach.
Information technology, automobile and financial stocks were among the major laggards, contributing to the broader market decline. Weak global cues and uncertainty surrounding the outlook for interest rates further dampened investor confidence.
Market experts noted that volatility is likely to remain elevated in the near term as investors assess the impact of geopolitical developments on global growth and commodity prices.
Foreign institutional investors also remained cautious ahead of key economic data releases and policy signals from major central banks.
Despite the decline, analysts maintained that domestic market fundamentals remain relatively strong, supported by steady economic growth, healthy corporate earnings and continued domestic investor participation.
However, they cautioned that a prolonged rise in oil prices could pose challenges for inflation management and fiscal stability.
Going forward, investors will closely monitor developments in the Middle East, movements in crude oil prices and global macroeconomic indicators for further direction.
Any easing of geopolitical tensions could help improve market sentiment, while fresh escalation may keep pressure on equities in the coming sessions.
The broader market also ended in negative territory, reflecting cautious investor sentiment across segments.
–ENDS–
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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