Stock Market Live Today: Geopolitical uncertainties to weigh
“Indian equities are expected to witness a mixed trend amid geopolitical uncertainties in West Asia. Although ceasefire negotiations continue in Qatar, recent military strikes have dampened expectations of a durable truce, keeping investor sentiment cautious despite lower crude oil prices. Domestic markets witnessed a volatile session on Tuesday ahead of the monthly expiry, with benchmark indices surrendering early gains as the Nifty 50 closed 0.3% lower at 23,866. Sentiment was weighed down by geopolitical concerns, rupee depreciation and profit booking in Information Technology and Auto stocks.
The IT sector remained under pressure amid concerns that higher US interest rates could slow global technology spending. However, broader markets continued to outperform, with the Nifty Midcap 100 and Nifty Smallcap 100 advancing 0.4% and 1%, respectively, reflecting sustained buying interest beyond the benchmark indices. Sectorally, Realty (+1.3%), Chemicals (1.4%) and Consumer Durables (+1.2%) emerged as the top gainers. Nifty Auto also gained over 1%, with gains moderated by profit booking in the latter half of the session.
Sentiment remained supported by the Delhi government’s ₹15,000 crore Electric Vehicle Policy and lower crude oil prices, which are expected to support margins and improve the sector’s earnings outlook. Water management companies are expected to remain in focus following the signing of an MoU between India and Saudi Arabia to strengthen cooperation in water resource management, supporting long-term opportunities in sustainable water infrastructure and irrigation.
Commodity prices remained under pressure, with MCX Gold and Silver declining 1.3% and 1.0%, respectively, as a stronger US dollar and expectations of a prolonged restrictive monetary policy stance by the US Federal Reserve weighed on both technology stocks and precious metals, says Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.