Sensex, Nifty post marginal gains as crude prices drop below $100
Mumbai, Sep 23 (IANS/WISHAVWARTA) The Indian equity markets inched up marginally early on Wednesday as crude prices eased below $100 per barrel mark. Investors also remain keen on easing global tensions ahead of scheduled talks between US President Donald Trump and his Chinese counterpart Xi Jinping.
As of 9.20 am, Sensex added 194 points, or 0.26 per cent, to reach 74,732 and Nifty gained 49 points, or 0.21 per cent to reach 23,378.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 added 0.33 per cent, and the Nifty Smallcap 100 advanced 0.6 per cent.
Sectoral indices on NSE traded in green except Nifty IT, down 0.37 per cent. Nifty metal was the top gainer, up 1.06 per cent, followed by FMCG and PSU Bank, up 0.55 per cent and 0.5 per cent, respectively.
“The structure of the market in recent days has been technically weak with a downward bias and will remain so in the absence of significant triggers. A sharp dip in crude prices or US bond yields can provide that trigger,” analysts said.
“Domestic liquidity is supporting the broader market. Market activity is now focused on the broader market. Good growth and better growth prospects are attracting investment into many mid-and small-caps but valuations in these segments are getting stretched,” they added.
Global cues are mixed as Asian markets remain broadly positive, supported by technology stocks, while Wall Street stayed near record levels amid renewed AI optimism.
In the previous session, Nifty closed at 23,329, down 0.43 per cent, after opening higher at 23,454. Immediate support is placed at 23,150–23,200, while resistance is seen at 23,450–23,500.
In the previous session, Bank Nifty closed at 56,215, down 0.49 per cent. Immediate support is placed at 55,800–56,000, while resistance is seen at 56,500–56,600.
In Asian markets, China’s Shanghai index shed 0.34 per cent, and Shenzhen lost 0.57 per cent, Japan’s Nikkei added 1.38 per cent, and Hong Kong’s Hang Seng Index declined 0.78 per cent. South Korea’s Kospi added 0.08 per cent.
The US markets ended mixed overnight as Nasdaq gained 0.45 per cent. The S&P 500 remained flat, and the Dow Jones shed 0.36 per cent.
On September 22, foreign institutional investors (FIIs) net sold equities worth Rs 3,800 crore, while domestic institutional investors (DIIs) bought equities worth Rs 4,120 crore.
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