Sensex ends flat at 77,541 as crude surge, US-Iran tensions dent sentiment
Synopsis
Indian markets managed a paper-thin gain on Friday but fell for the second straight week — a signal that the crude oil spike and US-Iran tensions are doing real damage to sentiment. With Nifty sandwiched between 24,000 support and 24,400 resistance, the next directional move hinges on geopolitical developments and global bond yield trajectory.
Key Takeaways
Sensex closed up just 3.11 points at 77,540.83 on Friday, 21 August .
Nifty50 gained 20.15 points ( 0.08% ) to end at 24,252.00 .
Both indices declined for the second consecutive week amid global macro concerns.
Nifty Metal and Nifty Private Bank were top sectoral outperformers; FMCG , Auto , and IT lagged.
Nifty MidCap rose 0.1% ; Nifty SmallCap gained 0.69% , showing broader market resilience.
Key Nifty support at 24,000–24,200 ; resistance at 24,300–24,400 .
Indian equity markets closed on a mixed note on Friday, 21 August, with the BSE Sensex and Nifty50 finishing nearly unchanged as rising crude oil prices and simmering US-Iran tensions kept investors on edge. A rebound in global bond yields added to the cautious mood, limiting any meaningful upside.
The Sensex inched up just 3.11 points to settle at 77,540.83, while the Nifty50 edged higher by 20.15 points, or 0.08 per cent, to close at 24,252.00.
Second Straight Week of Losses
Despite Friday's marginal gains, both indices logged declines for the second consecutive week, underscoring persistent investor anxiety over global macro conditions and geopolitical risks. The weekly losing streak reflects a broader risk-off posture that has gripped markets as crude prices climb and inflation fears linger.
Analysts noted that elevated US Treasury yields remain a key overhang. “The recent US Treasury’s move to ease bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears,” one market analyst said.
Key Support and Resistance Levels
On the technical front, experts identified the 24,000–24,200 zone as the Nifty’s critical support base, reinforced by heavy Put open interest at the 24,000 strike. On the upside, the index faces an immediate hurdle in the 24,300–24,400 resistance zone, which aligns with this week’s high of 24,360.
“A sustained move above 24,360–24,400 could trigger a quick advance towards 24,500–24,600,” a market expert noted, adding that a breakdown below support could invite fresh selling pressure.
Sectoral Performance: Metals and Banks Outperform
Among Nifty constituents, Trent, Maruti Suzuki India, and InterGlobe Aviation were among the session’s notable laggards. Sectorally, the Nifty FMCG, Nifty Auto, and Nifty IT indices underperformed the broader market.
In contrast, the Nifty Metal and Nifty Private Bank indices emerged as the session’s top outperformers. The broader market showed some resilience, with the Nifty MidCap index rising 0.1 per cent and the Nifty SmallCap index gaining 0.69 per cent.
What to Watch
Market participants will closely track crude oil price movements, further developments in US-Iran diplomatic tensions, and any shift in global bond yields heading into the next trading week. A de-escalation in geopolitical risk or a pullback in crude could provide the catalyst needed to push the Nifty above its immediate resistance zone.
Point of View
Auto, and aviation simultaneously, which explains why those sectors underperformed even on a flat day. The US-Iran tension adds a tail-risk premium that markets are not yet fully pricing. If crude sustains above current levels, the Nifty’s 24,000 support will be tested far sooner than the bulls expect.
NationPress
21 Aug 2026
Frequently Asked Questions
Why did the Sensex and Nifty end nearly flat on 21 August?
The Sensex gained just 3.11 points and the Nifty rose 20.15 points on 21 August as rising crude oil prices, US-Iran geopolitical tensions, and a rebound in global bond yields kept investor sentiment cautious. Gains were capped despite some resilience in mid- and small-cap stocks.
Why did Indian markets fall for two consecutive weeks?
Both the Sensex and Nifty declined for the second straight week, reflecting sustained investor concern over elevated global bond yields, surging crude oil prices, and persistent inflation fears. Geopolitical risks tied to US-Iran tensions added to the risk-off mood.
What are the key Nifty support and resistance levels to watch?
Analysts identify the 24,000–24,200 zone as the Nifty’s critical support base, backed by heavy Put open interest at the 24,000 strike. On the upside, the 24,300–24,400 zone is the immediate resistance; a sustained break above 24,400 could open a move toward 24,500–24,600.
Which sectors outperformed and underperformed on Friday?
Nifty Metal and Nifty Private Bank were the top outperformers on 21 August. Nifty FMCG, Nifty Auto, and Nifty IT underperformed the broader market. Among individual stocks, Trent, Maruti Suzuki India, and InterGlobe Aviation were among the session’s notable losers.
How did mid- and small-cap stocks perform compared to large caps?
Broader markets showed more resilience than large caps on Friday, with the Nifty MidCap index rising 0.1 per cent and the Nifty SmallCap index gaining 0.69 per cent, even as the headline Sensex and Nifty ended virtually flat.
