Mumbai — Indian equity markets ended mixed Friday, with the Sensex finishing nearly unchanged and the Nifty posting a modest gain as rising crude oil prices, higher global bond yields and continued tensions between the United States and Iran kept investors cautious.
The Sensex gained 3.11 points to close at 77,540.83, while the Nifty rose 20.15 points, or 0.08%, to settle at 24,252.
Market analysts said the 24,000 to 24,200 range remains an important support zone for the Nifty, supported by heavy Put open interest at the 24,000 strike.
On the upside, the 24,300 to 24,400 range is seen as the immediate resistance zone. Analysts said a sustained move above 24,360 to 24,400 could open the way for the index to advance toward 24,500 to 24,600.
Despite Friday’s marginal gains, both the Sensex and Nifty declined for a second consecutive week amid concerns over global market conditions and geopolitical risks.
Among major Nifty stocks, Trent, Maruti Suzuki India and InterGlobe Aviation were among the leading decliners.
The broader market performed somewhat better. The Nifty MidCap index rose 0.1%, while the Nifty SmallCap index gained 0.69%.
Among sectors, the Nifty FMCG, Auto and IT indexes underperformed, while Metal and Private Bank shares were among the stronger performers.
Investors continued to monitor movements in global bond yields, crude oil prices and developments surrounding US-Iran tensions.
Analysts said elevated global bond yields remain a concern, while efforts by the U.S. Treasury to ease pressure on yields have provided limited relief amid rising crude prices and persistent inflation concerns. (Source: IANS)
