Benchmark stock market indices started the day with little movement on Thursday, reflecting a mix of global signals despite reduced geopolitical tensions providing some backing. In the early trading session, the benchmark indices remained around the stability mark.
By approximately 9:43 am, the BSE Sensex was at 78,030.99, showing a slight increase of 42.31 points or 0.05%. Conversely, the Nifty 50 experienced a marginal decline of 6.85 points or 0.03%, reaching 24,189.90.
Even with positive international events like a 10-day truce between Lebanon and Israel and potential upcoming talks between the US and Iran indicated by President Donald Trump, investor confidence stayed cautious. Dr. VK Vijayakumar from Geojit Investments Limited mentioned that the US market’s resilience and the ceasefire news were positive signs for the market.
The bigger market segment continued to surpass the main indices, with Nifty Midcap 100 rising by 0.15% and Nifty Smallcap 100 by 0.54%, indicating steady retail and domestic investments in these sectors.
Across different sectors, Nifty FMCG, Media, and Oil & Gas showed gains, while IT, Metal, and Pharma stocks experienced slight selling pressure.
In terms of stock performance on the Sensex, Maruti Suzuki led with a 1.89% increase, followed by Adani Ports up by 0.99%. However, HCLTech lagged the most, dropping by 1.03%, with Tata Steel and Bajaj Finance also in the negative territory.
Early trade saw a decline in crude oil prices, providing some relief in terms of inflation. WTI crude dropped by 1.27% to $93.49 per barrel, while Brent crude decreased by 1.25% to $98.15 per barrel.
Looking ahead, market participants are likely to focus on Q4 earnings releases and management insights, potentially influencing individual stock movements. While short-term fluctuations may persist, particularly in large caps, broader markets could continue their momentum with support from domestic investments.