Domestic equity markets started the day on a quiet note due to mixed global signals and a drop in crude oil prices. The Sensex was up 40 points at 76,050, a 0.05% increase, while the Nifty rose by 20 points to 23,932. Nifty Metal led the sectoral gains, rising by 1.59%, followed by Nifty Cement at 0.83%.
Nifty Oil & Gas experienced the most significant decline at 0.66%, while private banks, financial services, and IT sectors also saw losses of up to 0.33%. Notable selling pressure was observed in heavyweight stocks like Coal India and ONGC, with drops of over 4% and nearly 3%, respectively. HDFC Bank, Infosys, and Wipro were also under pressure.
Market analysts suggest a cautious yet stable market tone in the near term, with recent profit booking leading to some consolidation after a strong recovery phase. Despite occasional weakness, the controlled volatility and balanced market breadth indicate that the broader sentiment has not significantly worsened.
In the international scenario, crude oil prices saw a decline, with Brent crude dropping by 1.73% to $97.85 per barrel and US West Texas Intermediate (WTI) crude falling over 2% to $91.87 per barrel. Across Asia, markets showed mixed trends, with Hong Kong’s Hang Seng down nearly 1%, while Japan’s Nikkei and South Korea’s KOSPI rose by almost 5%.
Wall Street in the US closed higher, with the S&P 500 gaining 0.61% and the Nasdaq ending 1.19% higher.
