Closing Bell: Nifty 50 Falls For 3rd Straight Session; Sensex Ends 0.15% Higher

Indian benchmark indices ended mixed on Thursday, August 13, with the Nifty 50 declining for the third consecutive session, while the Sensex snapped a two-session losing streak. Persistent concerns over elevated crude oil prices, stalled U.S.-Iran peace efforts and the ongoing Q1 earnings season kept investors cautious.

The Nifty 50 opened at the day's high of 24,431.60, but selling pressure emerged soon after, dragging the index to an Intraday low of 24,311.40. The index recovered around noon and briefly moved above the 24,400 mark, but the rebound lacked follow-through as selling returned at higher levels. The Nifty 50 remained under pressure during the second half of the session and closed near the lower end of the day's range.

At close, the Nifty 50 settled at 24,395.85, down 40.10 points, or 0.16 per cent, extending its decline for the third straight session. The Sensex ended at 78,079.96, gaining 113.61 points, or 0.15 per cent, snapping a two-session losing streak. The Bank Nifty advanced 0.43 per cent, while India VIX declined 2.27 per cent and remained below the 11.5 level.

Brent crude oil fell below USD 88 a barrel on Thursday, ending a six-session rally as concerns over weakening global demand and continued disruption around the Strait of Hormuz weighed on prices. The International Energy Agency lowered its global oil demand outlook and warned that the prolonged Middle East conflict and higher oil prices were increasingly hurting consumption.

The IEA expects the global oil market to face a supply shortfall of 1.8 million barrels a day this quarter, while supply was 6.3 million barrels a day below year-earlier levels in July. Meanwhile, U.S. crude inventories jumped 17.4 million barrels last week, marking the biggest weekly increase since January 2023. Diplomatic efforts between the U.S. and Iran have made limited progress, while attacks on shipping have continued. Despite Thursday's decline, Brent remained nearly 5 per cent higher for the week.

Broader markets ended marginally higher, with the Nifty Midcap 100 gaining 0.15 per cent and the Nifty Smallcap 100 rising 0.17 per cent.

Five of the 11 key sectoral indices ended in positive territory. The Nifty Realty index emerged as the top sectoral gainer, advancing 0.97 per cent and extending its recent gains. Oberoi Realty rose more than 2.5 per cent. On the other hand, the Nifty Metal index was the biggest sectoral laggard, falling 1.04 per cent, dragged by a decline of more than 4.5 per cent in National Aluminium.

Among individual stocks, Reliance Industries declined 0.9 per cent after MSCI reduced the stock's weight in its key index. Tata Motors gained 3.88 per cent after reporting higher quarterly profit and forecasting firm demand. Gujarat Fluorochemicals, Somany Ceramics and Sun TV Network gained between 2 per cent and 3 per cent, while Goodyear India and Shriram Properties declined 3.69 per cent and 6.35 per cent, respectively, as investors assessed their earnings updates.

Larsen & Toubro was the biggest positive contributor to the Nifty 50, adding 12.94 points to the index, followed by Eternal with a 6.24-point contribution and Tata Consultancy Services with 5.64 points. On the downside, ICICI Bank was the biggest drag, reducing the index by 38.91 points, followed by Reliance Industries with a 17.67-point drag and HDFC Bank with a 13.37-point drag.

Market breadth remained nearly evenly split but was marginally tilted towards declining stocks. Of the 3,498 stocks traded on the NSE, 1,688 advanced, 1,698 declined and 112 remained unchanged. A total of 108 stocks touched their 52-week highs, while 62 stocks hit their 52-week lows. Meanwhile, 143 stocks were locked in their Upper Circuits and 90 stocks were locked in their Lower Circuits.

Disclaimer: The article is for informational purposes only and not investment advice.