The Indian Stock Markets on Monday ended almost flat even after the crude oil prices remain elevated and the investors’ sentiments weigh on the Middle East Crisis.
At close, Sensex was up by 43.27 points or 0.06% at 78,542.44 while Nifty was at 24,583.80 up by 13.15 points or 0.05%.
In terms of the sectoral performances, Nifty PSU Bank was the top loser crashing 1.67% while the Nifty Oil and Gas was down 0.37%, Healthcare down by 0.35%, Pharma down by 0.23%, FMCG down by 0.14%, and Auto down by 0.09%. Further, the Bank Nifty dropped 0.10%, while the Financial Services index climbed 0.30%.
On the other hand, Nifty Realty jumped 1.35%. Private Bank, Consumer Durables, Metal, and IT indices rose by up to 0.52%.
Indian rupee ended at day’s low at 95.26 per dollar on Monday versus previous close of 95.21. Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said, “The Indian Rupee weakened 0.07% to 95.26, as Crude Oil found support near the $80 mark and gained around 2.5%, increasing import-cost pressure and weighing on the Rupee. The recovery in energy prices remains an important near-term factor for USD/INR. Market focus now shifts towards the US CPI data due this week, which could influence expectations around the Federal Reserve’s monetary-policy path and consequently drive volatility in the Dollar Index.
“With Crude Oil recovering and the Dollar remaining sensitive to upcoming US inflation data, USD/INR is likely to remain range-bound but volatile.
Expected Range: 95.00–95.50.”
Vinod Nair, Head of Research, Geojit Investments Limited said, “Markets remained on a tight leash as uncertainty surrounding the Strait of Hormuz continued to temper risk appetite, even as encouraging corporate earnings lent support to broader sentiment. Globally, softer-than-expected U.S. jobs data weakened the case for Fed tightening, shifting investor focus to upcoming U.S. inflation readings for fresh direction on rates and bond yields.”
“A softer yield environment could revive interest in emerging markets and pave the way for stronger FII participation. Amid these global crosscurrents, India’s robust domestic growth engines and resilient economic fundamentals continue to stand out, providing a strong anchor for investor confidence.”