Geopolitical jitters from the US-Iran conflict cast a shadow over India’s equity markets, which opened flat this Monday morning. By 9:17 AM, BSE Sensex was down 137.14 points (0.17%) at 78,356.40, and NSE Nifty shed 61.65 points (0.25%) to stand at 24,291.50. The subdued start underscores investor wariness over potential disruptions in global energy markets.
Metal and realty stocks bore the brunt, dragging down their respective Nifty indices to the bottom of the sectoral leaderboard. Indices such as Nifty India Defence, PSE, Consumer Durables, Commodities, and Oil & Gas followed suit in negative territory. Bright spots emerged in PSU Banks, Media, and Consumption sectors, which traded positively.
Broader market participation was encouraging, with midcaps and smallcaps outperforming benchmarks. Nifty Midcap 100 surged 0.51% or 303.70 points to 60,201.90, while Nifty Smallcap 100 gained 0.22% or 38.40 points to 17,604. This strength in smaller stocks signals underlying domestic optimism.
Sensex heavyweights like Trent, SBI, ICICI Bank, Asian Paints, UltraTech Cement, Adani Ports, L&T, Axis Bank, NTPC, HUL, Bajaj Finserv, M&M, Bharti Airtel, Tata Steel, and IndiGo were among the top performers. Losers included HDFC Bank, Infosys, Kotak Mahindra Bank, TCS, Titan, and ITC, as banking and IT faces rotated out of favor.
Most Asian bourses posted gains, including Tokyo, Hong Kong, Shanghai, Seoul, and Jakarta. Bangkok was the lone decliner. Wall Street ended Friday on a high note, supported by robust jobs data and corporate earnings.
FIIs net purchased Rs 683.20 crore in equities on Friday, countering DIIs’ massive net selling of Rs 4,721.48 crore. This FII inflow offers some reassurance, but sustained tensions in the Strait of Hormuz—recently reopened only to face closure threats—keep oil prices volatile. Market watchers predict heightened fluctuations, advising focus on defensive sectors and value plays for stability.
