Indian benchmark indices opened on a cautious note on Tuesday, with the BSE Sensex and Nifty 50 slipping marginally as investors turned wary after the previous session’s sharp rally and rising global oil prices weighed on sentiment
Indian benchmark indices opened on a cautious note on Tuesday, with the BSE Sensex and Nifty 50 slipping marginally as investors turned wary after the previous session’s sharp rally and rising global oil prices weighed on sentiment.
At 9:17 am, the Sensex was down 58.44 points, or 0.08 per cent, at 75,444.41, after opening higher at 75,826.68 and touching an intraday high of 75,833.36. The Nifty 50 fell 35.85 points, or 0.15 per cent, to 23,372.95, with declines outpacing advances (30 stocks down versus 20 gainers).
The muted start follows a strong close on Monday, when the
Sensex surged nearly 940 points to end above 75,500, driven by banking, metal and consumption stocks.
Early trade on Tuesday reflected a mixed sectoral trend. Information technology stocks were under pressure, with heavyweights like Infosys, HCLTech and Tata Consultancy Services among the top laggards on the Sensex.
On the other hand, metal and select banking stocks provided some support. Shares of Tata Steel, Bharat Electronics Limited, and ICICI Bank traded in the green, alongside gains in Bharti Airtel and Asian Paints.
Broader market breadth remained weak, indicating cautious positioning by investors despite pockets of buying.
Oil surge, West Asia tensions in focus
Investor sentiment remained fragile amid escalating geopolitical tensions in West Asia, which have triggered a fresh spike in crude oil prices.
Brent crude
rose over 2 per cent to above $102 a barrel, while US West Texas Intermediate crude climbed close to $96, as disruptions in the Strait of Hormuz deepened supply concerns. The critical chokepoint, which handles roughly a fifth of global oil and LNG trade, has been largely impacted by the ongoing conflict involving the US, Israel and Iran.
The disruption has forced production cuts in key oil-producing nations and raised fears of prolonged supply shortages. Analysts warn that sustained crude prices above $100 could stoke inflationary pressures globally and weigh on oil-importing economies such as India.
Rupee, macro risks add to caution
The rise in crude prices has also kept pressure on the Indian rupee, which has been hovering near record lows in recent sessions. A weaker currency, coupled with higher import costs, could widen India’s trade deficit and complicate the inflation outlook.
Market participants are also watching for any policy signals or intervention measures, as well as developments in the ongoing geopolitical conflict that could influence energy markets and global risk appetite.
For now, analysts expect volatility to persist, with global cues — particularly oil prices and geopolitical developments — likely to dictate the near-term direction of Dalal Street.
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