A day after a volatile session, Indian equity benchmark indices, the Sensex and Nifty, opened lower amid rising crude oil prices and ongoing geopolitical uncertainty in the Middle East. While the 30-share BSE Sensex shed 32.67 points to start the session at 78,509.77, the Nifty opened almost flat with a drop of 8.7 points to open at 24,575.10. In the last trading session, the Sensex closed at 78,542.44 and the Nifty 50 at 24,583.80. However, the broader indices traded mixed in the early trading session. While the BSE Midcap Select Index was down by 56.46 points, the BSE Smallcap Select Index added 21.09 points or 0.23 per cent, to trade in the green at 9,101.25.
From the Sensex pack, Adani Ports, BEL, Tech Mahindra, HCL Tech, and Titan were the gainers, with Adani Ports leading the pack by gaining 0.65 per cent in the early trade. On the other hand, Indigo, Bajaj Finance, SBIN, UltraTech Cement, and Axis Bank were among the losers, with Indigo the top loser, down over 1.29 per cent.
In early trade, market breadth was positive, with 1,400 stocks advancing against 1,158 stocks declining on the NSE. 128 stocks remained unchanged.
"The near-term outlook remains cautiously positive with a range-bound bias, as domestic technical structure continues to hold despite mixed global cues and softer Gift Nifty indications. Elevated crude oil prices and geopolitical uncertainty may cap gains, while upcoming U.S. inflation data could influence global risk appetite. Holding key support levels should keep downside contained, with selective buying likely to emerge on dips," said Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
