Indian equities kicked off the week on a subdued note Monday, with benchmark indices showing minimal movement against a backdrop of frail international cues. Sensex declined by 148 points or 0.20% to settle at 74,415.79, as Nifty mirrored the caution, easing 35 points or 0.15% to 23,116.10.
Broad-based weakness gripped mid and small-cap segments early on. Nifty Midcap 100 was down 0.29% or 159 points at 54,629, while Smallcap 100 tumbled 0.77% or 145 points to 15,750.
Sectoral performance painted a mixed picture, headlined by sharp drops in realty and oil & gas. Nifty Realty and Oil & Gas indices topped the losers’ chart. Defense, PSE, energy, consumer goods, media, automobiles, infrastructure, PSU banking, and technology also faced selling pressure.
Gainers were led by metals, FMCG, commodities, pharmaceuticals, private banks, healthcare, and financial services, providing some counterbalance.
Sensex constituents showed divergence: gainers included UltraTech Cement, ITC, Tata Steel, IndiGo, HDFC Bank, Kotak Bank, SBI, Bajaj Finance, HCL Technologies, and Hindustan Unilever. Decliners featured BEL, Mahindra & Mahindra, Trent, Power Grid, Bharti Airtel, Asian Paints, NTPC, Tech Mahindra, Maruti Suzuki, Bajaj Finserv, Eternal, ICICI Bank, and Axis Bank.
Overseas, Asian markets were mostly red with Tokyo, Shanghai, Bangkok, and Jakarta down. Seoul and Hong Kong bucked the trend. Friday’s US session ended lower across indices, Nasdaq falling about 1%.
FII outflows persisted, with net sales of ₹10,716.64 crore last session, countered by DII inflows of nearly ₹10,000 crore.
Middle East unrest propelled oil prices higher, Brent at $104.3 (up 1.12%) and WTI at $99.13 (up 0.43%). This surge poses inflationary risks, potentially weighing on market recovery.
Investors eye global developments closely, as persistent oil spikes and FII selling could prolong the current consolidation phase.