Benchmark indices Sensex and Nifty remained flat on Monday as rising crude oil prices and lingering uncertainty over developments in the Middle East offset optimism stemming from weaker-than-expected US jobs data. The 30-share BSE Sensex closed 43.27 points or 0.06 per cent higher at 78,542.44. During the day, the benchmark hit a high of 78,676.98 and a low of 78,298.92, gyrating 378.06 points. However, the 50-share NSE Nifty ended flat with a gain of just 13.15 points or 0.05 per cent. The broader market also ended the session in the green. While the BSE MidCap Select Index gained 41.80 points or 0.22 per cent, the BSE SmallCap Select Index added 14.08 points or 0.16 per cent.
Among sectoral indices, Nifty Realty was the major gainer, with a 1.35 per cent jump. On the other hand, Nifty PSU Bank fell 1.67 per cent.
“Indian equity markets ended marginally higher after a largely directionless trading session, as gains in information technology and consumer-oriented stocks offset weakness in banking shares. Markets remained in a wait-and-watch mode amid a lack of tangible progress toward a lasting Middle East settlement and Iran’s tougher stance on reopening the Strait of Hormuz, discouraging aggressive risk-taking. Crude oil prices have eased from the highs seen during the height of the conflict but continue to hover at relatively elevated levels, leaving investors mindful of the potential impact on India’s inflation trajectory, external balances, and broader macroeconomic outlook,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.
Top gainers and losers
Among the 30-Sensex firms, Titan, Bajaj Finance, Bajaj Finserv, Tata Steel and Asian Paints were the major gainers, with Titan gaining 3.14 per cent today. On the flip side, SBIN, Eternal, NTPC, ITC and TCS were among the laggards. The shares of SBIN fell 2.19 per cent today.
Today, shares of 19 out of 30 Sensex companies closed in the green, while the remaining 11 closed in the red. On the other hand, shares of 25 out of 50 Nifty 50 companies also closed in the green, with gains, while the 23 others closed in the red and two remained unchanged.
Rupee traded with a positive bias
Meanwhile, the Indian rupee began the week under pressure, tracking a stronger US dollar and elevated commodity markets.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)