Indian Markets Slide as Investors Seek Clarity on Energy Prices

Indian equity markets closed lower on Friday, August 14, as investors looked for clarity on energy prices and global bond yields. The NSE Nifty50 ended at 24,366, down 29.85 points or 0.12%, while the Sensex fell 70.71 points or 0.09% to close at 78,009.25.

Analysts say investors will closely track crude oil prices, geopolitical developments, US retail sales, FOMC minutes and Chinese economic data for further cues on global growth and the Federal Reserve's policy outlook.

Rupak De, Senior Technical Analyst at LKP Securities, notes that the momentum indicator RSI has started to weaken, with the bearish crossover slipping towards the oversold zone. He predicts a potential fall towards 24,180 or higher resistance at 24,400.