Can Nifty hold 24,400? Brent crude cools to $86 | Opening Bell
US-Iran talks remain deadlocked as Gulf war settlement stalls. US to apply economic pressures never seen before on Iran: Scott Bessent. US biggest miscalculation is over Strait of Hormuz: Iranian foreign minister. Trump imposes 100% tariffs on some drones, citing national security. Top 100% rate will apply to drones of a certain size; others will face lower duties: White House. Smaller drones that lack national security abilities will be taxed at a 25% rate: White House. US markets positive on Thursday: Dow up 0.1%, S&P 500 & Nasdaq gain 0.6-0.8%. S&P 500, Nasdaq indices set to gain for third straight week. Dow Jones down 0.4% week to date. US PPI index flat MoM in July at 4.7%. FIIs net sell equities worth Rs 510 crore on Thursday. DIIs net buy equities worth Rs 4,353 crore on Thursday. Nifty adjusted 40 points in CAS settlement, below 23,400. Sensex adjusted 100 points in CAS settlement at 78,080. Bank Nifty down 251 points to 57,635. Midcap index rises 97 points to 64,122. Market breadth neutral; advance-decline ratio at 1:1. Tata group stocks stage recovery; Tata Consumer top Nifty gainer. Rupee at 95.44/$ vs Wed’s close of 95.33/$. All eyes on July WPI inflation after CPI rose to 4.45%. Key Q1 results: Ashok Leyland, Alkem Labs, NMDC.
