Sensex, Nifty Snap Two-Week Winning Streak Amid Oil Price Volatility
The Indian stock market benchmarks, Sensex and Nifty 50, closed lower on Friday, August 14, marking an end to their two-week winning streak.
The Sensex declined by 71 points or 0.09% to finish at 78,009.25, while the Nifty 50 ended at 24,366, down 30 points or 0.12%. The mid and small-cap segments underperformed, with the Nifty Midcap 100 index falling 0.53% and the Nifty Smallcap 100 index dropping 0.69%.
The decline was attributed to weak global cues, including elevated oil prices, rising bond yields, and uncertainties over a potential US-Iran peace deal. Brent crude prices traded above $87 per barrel after US Defense Secretary Pete Hegseth warned that Washington could continue its naval blockade of Iranian ports indefinitely.
Vinod Nair, Head of Research at Geojit Investments, noted that 'a sideways trend persisted in the market as investors awaited greater clarity on the outlook for energy prices and global bond yields.'