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Dalal Street closed on a split note on Friday as an afternoon bounce lifted the Nifty 50 by 0.33% to 23,346, while the Sensex surrendered early gains in the final 30 minutes to settle marginally lower. With Brent crude still above $100, central banks turning hawkish, and a high-stakes governance battle erupting at Tata Sons, both indices logged their sixth consecutive weekly decline.
Dalal Street delivered a split verdict on Thursday as cautious optimism wrestled with persistent global macro pressures. While the Nifty managed a 53-point gain to close at 23,270, the Sensex ended flat with a negative bias, weighed down by an aggressive US Fed dot plot, $106 Brent crude, and massive liquidity absorption by the primary market.
Dalal Street halted its multi-session slide on Tuesday as both the Sensex and Nifty staged a relief rally from five-month lows, buoyed by defensive FMCG buying and central bank defense of the rupee. However, with Brent crude stubbornly elevated near $108 and US Treasury yields lingering at 5%, broader market sentiment remains guarded ahead of the Federal Reserve’s rate decision.
Dalal Street suffered a sharp downturn on Wednesday as geopolitical turmoil in the Middle East drove Brent crude beyond the $100 mark. Compounded by a slide in the Nifty IT index and Fed rate hike anxieties, both the Sensex and Nifty closed at their lowest levels in three months.
A sharp escalation in West Asia pushed Brent crude close to $100 per barrel, triggering a broad-based market rout on Dalal Street. With the rupee sliding to a monthly low and US rate hike odds rising, both Sensex and Nifty extended their multi-week slide.
Dalal Street finally got a breather on Thursday, September 4, after four straight sessions of punishment, but the close was nowhere near the day’s high. What looked like a strong comeback in the morning turned into a cautious close after the closing auction shaved off gains.
It was a tale of two sessions in one day. Dalal Street started Thursday with swagger, ended with a whimper.
Dalal Street started September on a sour note. After a gap-down open, benchmark indices never recovered, ending deep in the red as a lethal mix of $95 crude, spiking US yields and fresh US-Iran missile exchanges sent global risk assets tumbling.
Dalal Street closed Tuesday on a tired note. After flirting with 77,231 intra-day, the BSE Sensex settled at 76,944.28, down 12.99 points or 0.017% at 3:32 pm IST, while NSE Nifty 50 shut shop at 24,055.80, down 24.60 points or 0.10% at 3:31 pm IST.
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