New Delhi, Aug. 21: Indian equity markets remained subdued on Friday as rising crude oil prices and elevated global bond yields kept investors cautious, with the ongoing geopolitical tensions in the Gulf adding to market uncertainty.
The Nifty 50 was almost unchanged, gaining 0.02% to 24,239.4, while the BSE Sensex edged up 0.03% to 77,560.02. Both benchmarks were still down around 0.6% for the week.
Market sentiment remained under pressure after crude oil prices climbed to a one month high amid continuing tensions involving the United States and Iran. Higher energy costs have raised concerns about inflation and their potential impact on corporate profitability.
Eight of the 16 major sectoral indices declined during the session. Information technology stocks fell about 0.5%, giving up some of their recent gains, while small cap stocks advanced 0.7%. Mid cap shares slipped around 0.2%.
Among individual stocks, Welspun Corp gained sharply after securing an order worth $1.8 billion. Urban Company also advanced following a positive assessment from UBS.
Analysts said investors are likely to remain focused on crude prices, global interest rate expectations and developments in international bond markets as they assess the near term direction of domestic equities.
