Kolkata: Despite a decline in crude oil prices this morning, the Indian stock market were in the red in early trade. Around 9:25 AM, Sensex 30 was trading
at 77,809.82, down 0.20% or 156.53 points, while the broader Nifty 50 was trading at 24,348.85, down 0.36% or 87.10 points. The Asian markets were in the mixed zone this morning.
Crude oil this morning
Thanks to lower crude oil demand growth forecast by OPEC (Organisation of Petroleum Exporting Countries) for 2026, the prices of crude oil fell this morning, despite no change in the uncertainty factor in the West Asian conflict. Oil prices declined more than $1 on August 13. Brent futures dropped $1.29, or 1.5% to reach $87.69 a barrel and West Texas Intermediate crude fell $1.30, or 1.6% to reach $81.97.
International Energy Agency, too, predicted curtailed demand and indicated consumption could shrink by 1.6 million barrels per day on account of restricted supplies and higher prices (both resulting from then US-Iran war).
Rupee vs US Dollar
The rupee fell 7 paise to reach 95.40 against the US dollar in early trade this morning. On Wednesday, the Indian currency settled 3 paise higher at 95.33 against the US dollar.
Prominent gainers and laggards
Around 9:20 AM, the prominent gainers in Sensex 30 basket were INDIGO (+1.62%), ETERNAL (+1.50%), TECHM (+0.84%), NTPC (+0.56%), LT (+0.56%). The prominent laggards were POWERGRID (-0.76%), RELIANCE (-0.91%), INFY (-0.92%), TITAN (-1.33%) and ULTRACEMCO (-1.68%).
Asian markets this morning
The major Asian markets were in the mixed zone on Thursday morning. A few minutes before 9 AM, GIFT Nifty was 0.13% down, Nikkei 225 up 1.80%, Straits Times down 0.91%, Hang Seng unchanged, Taiwan Weighted up 0.99%, KOSPI up 4.13%, SET Composite up 0.43%, Jakarta Composite down 1.32% and Shanghai Composite up 0.42%.
Indian market yesterday
On Wednesday, higher crude oil prices dampened investor sentiment. Also the sudden exit of Tata Sons chairman added to the depressed sentiment. Sensex 30 settled 187.90 points, or 0.24% lower at 77,966.35, while Nifty 50 closed at 24,435.95, down 35.75 points, or 0.15%. Auto and IT stocks came under intense selling pressure.
“The BSE Midcap lost by 0.07% while the Smallcap index gained 0.09%. Of the 4535 stocks traded in BSE, 1867 stocks advanced, 2462 stocks declined while 206 remained unchanged,” pointed out Rajesh Agarwal of AUM Capital.
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