Mumbai: Indian equity markets opened on a muted note on Thursday, with benchmark indices hovering near the flatline despite easing geopolitical tensions offering some support to investor sentiment.
The BSE Sensex was trading at 78,030.99, up 42.31 points or 0.05% at around 9:43 am. Meanwhile, the Nifty 50 slipped marginally by 6.85 points or 0.03% to 24,189.90.
Cautious sentiment despite global relief
Markets tracked mixed global cues, even as a temporary easing of geopolitical tensions provided some optimism. A 10-day ceasefire between Israel and Lebanon came into effect, while Donald Trump signalled the possibility of fresh talks with Iran over the weekend.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, the resilience of the US markets and positive geopolitical developments are supportive, but investors remain wary.
He cautioned that Trump’s statements should be viewed carefully given past inconsistencies, adding that investors should rely more on concrete developments than rhetoric.
Midcaps and smallcaps outperform
The broader market continued to outperform the frontline indices. The Nifty Midcap 100 rose 0.15%, while the Nifty Smallcap 100 gained 0.54%, indicating sustained domestic inflows and strong retail participation.
Sectorally, FMCG, media and oil & gas stocks traded in the green, while IT, metal and pharma sectors faced mild selling pressure in early trade.
Sensex movers: Maruti leads, IT stocks lag
Among Sensex constituents, Maruti Suzuki led the gains with a rise of 1.89%, followed by Adani Ports, which gained nearly 1%.
ITC Limited, Hindustan Unilever and Kotak Mahindra Bank also traded higher.
On the downside, HCLTech emerged as the top loser, declining over 1%. Tata Steel, Bajaj Finance, TCS and Bharti Airtel were also among the laggards.
Oil prices ease, outlook remains mixed
Crude oil prices declined in early trade, offering some relief on the inflation front. WTI crude fell 1.27% to $93.49 per barrel, while Brent crude slipped 1.25% to $98.15 per barrel.
Looking ahead, analysts expect continued volatility, particularly in large-cap stocks, amid concerns over foreign institutional investor (FII) activity.
However, the broader market may remain relatively resilient, supported by domestic inflows and retail participation.
Conclusion
While easing geopolitical tensions have provided some relief, Indian markets remain cautious amid mixed global signals and uncertainty around investor flows. In the near term, focus is likely to remain on Q4 earnings and management commentary, which could drive stock-specific movements.