Business
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.
After seven straight days in the red, Dalal Street finally found its footing on Thursday. The Sensex and Nifty both closed higher, powered by a bounce in financials and IT as global bond markets calmed down.
Dalal Street had no respite on Wednesday. For the seventh session in a row, Indian equities slipped, clocking their longest losing run in 11 months as investors ran for cover amid dearer oil and rising US bond yields.
It was a jittery Monday on Dalal Street. After a hesitant start, Indian benchmarks slipped into negative territory and stayed there, dragged down by IT, metals and broad-based profit booking.
Dalal Street ended the day on a jittery note, with both headline indices giving up intraday gains to close in negative territory for the second day in a row.
Indian equities wrapped up the week on a subdued note, with the Nifty 50 and BSE Sensex both slipping into the red on Friday as rising crude and renewed Middle East tensions kept investors risk-averse.
Indian equities closed lower on Wednesday, giving up early gains as profit booking in heavyweight financials and caution ahead of inflation data kept sentiment muted.
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