Home / Business and Economy / Markets Flat Amid Global Tensions, Profit Booking
Markets Flat Amid Global Tensions, Profit Booking
16 Jul
Summary
- Nifty dipped below 24,100 due to profit booking and weak global cues.
- US-Iran tensions fueled concerns over crude oil and inflation.
- IT, auto, and consumer durable stocks provided some support.
Domestic equity benchmarks surrendered most of their intraday gains on Thursday, July 16, 2026, as investors booked profits amidst weak global cues. The Nifty slipped below the 24,100 mark after touching an intraday high of 24,186.50 in morning trade. Sentiment remained cautious due to escalating US-Iran tensions, fueling concerns over higher crude oil prices and their potential impact on global inflation.
A sell-off in global semiconductor stocks weighed on overseas markets. However, gains in IT, auto, and consumer durable stocks helped limit the downside on Indian bourses. Technically, the Nifty remains range-bound, with a decisive move above the 24,200-24,260 zone needed to revive bullish momentum. A breach below 24,000 could trigger fresh selling. The S&P BSE Sensex advanced 1.44 points to 77,186.67, while the Nifty 50 index fell 5.75 points to 24,072.75.
