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Indian Equities Trade Lower as Crude Surges, Geopolitical Risks Weigh on Sentiment
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Business News This Week
Mumbai, Aug 12: Domestic equity markets traded lower in early deals on Wednesday as rising crude oil prices and continued geopolitical tensions weighed on investor sentiment.
Nifty Metal emerged as the top gainer, rising 0.86 per cent, while Nifty PSU Bank advanced 0.60 per cent and Nifty Auto gained 0.23 per cent.
On the other hand, Nifty FMCG declined 0.64 per cent, followed by Nifty Realty, which fell 0.58 per cent.
Market experts said the benchmark indices were moving in a narrow range as elevated crude prices and geopolitical uncertainty continued to limit the possibility of an upside breakout.
Brent crude was trading around 1 per cent higher at $89.87 per barrel, while US West Texas Intermediate (WTI) crude rose 1.14 per cent to $84.14 per barrel.