Sensex ends flat at 77,540 as Brent crude holds above $93 a barrel. FII selling and rising U.S. bond yields cap gains. Weekly loss of 0.60%.
Alpha Score of 60 reflects moderate overall profile with strong momentum, moderate value, moderate quality, moderate sentiment.
Indian benchmark indices ended flat on Friday, unable to push past Thursday's recovery as elevated crude oil prices and rising U.S. Treasury yields kept investors on the sidelines.
The BSE Sensex closed at 77,540.83, up 3.11 points, after swinging 279 points between a high of 77,725.67 and a low of 77,445.86. The NSE Nifty rose 20.15 points, or 0.08%, to 24,252.
"A rebound in U.S. Treasury yields and persistently elevated crude oil prices discouraged investors from taking aggressive directional positions," said Hariselvan Radhakrishnan, founder and CEO of HST Wealth, a research analyst firm. "The continuing standoff between the United States and Iran has kept geopolitical risk firmly embedded in energy markets, leaving oil prices at levels that remain uncomfortable for a major importing economy such as India."
Brent crude edged up 0.06% to $93.84 a barrel. The renewed rise in U.S. bond yields added uncertainty despite the Treasury's expanded debt-buyback programme, Radhakrishnan said.
Foreign institutional investors sold ₹583.36 crore of equities on Thursday, exchange data showed.
Power Grid, Bharat Electronics, Kotak Mahindra Bank, NTPC, Bajaj Finserv and Asian Paints were the biggest Sensex gainers. Trent, Maruti, InterGlobe Aviation and HCL Tech fell.
The BSE SmallCap Select index rose 0.81% and the MidCap Select index added 0.39%. Among sectoral indices, insurance climbed 0.94%, utilities 0.69% and power 0.64%. Auto dropped 0.68%, housing finance 0.61% and hospitals 0.50%.
"Elevated global bond yields continue to cause worry in the market," said Vinod Nair, head of research at Geojit Investments. "The recent U.S. Treasury move to ease bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears."
For the week, the Sensex fell 468.42 points, or 0.60%, and the Nifty lost 114 points, or 0.46%.
Asian markets were mixed. South Korea's Kospi, Shanghai's SSE Composite and Hong Kong's Hang Seng ended higher. Japan's Nikkei 225 settled lower. European markets traded marginally higher. U.S. markets ended in negative territory on Thursday.
The flat close masks a market that is increasingly tethered to two external forces: the Iran-U.S. standoff keeping oil above $93, and the U.S. bond market where the 10-year yield has crept higher even after the Treasury's buyback expansion. For an economy that imports roughly 85% of its crude, every dollar above $90 adds pressure to the trade deficit and the rupee. The FII selling on Thursday – ₹583 crore – suggests foreign money is not yet convinced the worst is over.
HST (Host Hotels & Resorts) carries an Alpha Score of 61 out of 100, a Moderate label, in the Real Estate sector.
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