Major indexes today ended at a higher end as US tensions in the Middle East continued to deepen. Commodity markets continued to present a mixed backdrop for domestic equities. WTI Crude Oil climbed 0.91% to $80.06 per barrel, while Brent Crude gained 1.27% to $85.81. Elevated oil prices remain a concern for India, one of the world’s largest crude importers, as they could increase the country’s energy import bill and pressure fuel-intensive sectors. Meanwhile, Gold slipped 0.78% to 4,037.77, suggesting some easing in safe-haven demand.
Asian markets remained focused on global growth prospects, geopolitical developments, and expectations for major central bank policy decisions. Domestically, investors are closely tracking quarterly earnings for indications of corporate resilience.
HCL technologies attracted fresh buying after outperforming the broader market in the previous session. Sun Pharmaceutical continued to witness a steady demand amid global conditions. While, Dr. Reddy’s Laboratories Pharmaceutical shares remained supported as investors rotated into defensive sectors.
Selling pressure persisted on certain heavyweight players of the sectors. Tata stocks remained under pressure as higher input costs and global uncertainty weighed on sentiment. Adani ports continued to face selling amid concerns over rising energy prices. While Banking stocks saw selective profit-taking following recent gains.
The market opening today reflected resilience in domestic equities despite rising oil prices and currency weakness.