Sensex, Nifty open flat as easing West Asia tensions boost market sentiment

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After a significant gain on Monday, the Indian equity market opened on a flat note on Tuesday, driven by easing tensions in West Asia.

Sensex opened at 77,086.05, down 8 points or 0.01 per cent, while Nifty started the session at 24,071.30, lower by 31.60 points or 0.13 per cent, as per IANS.

Sectoral indices

Sector-wise, Nifty Pharma was the top gainer, rising 0.41 per cent, followed by Nifty MidSmall Healthcare (up 0.40 per cent), Nifty 500 Healthcare and Nifty Media, all gaining 0.29 per cent.

While Nifty Cement and Nifty Oil & Gas also advanced 0.27 per cent and 0.18 per cent, respectively.

On the other hand, Nifty Metal was the worst-performing sector, declining 0.8 per cent, followed by Nifty IT, which fell 0.77 per cent.

Among Nifty 50 constituents, Infosys, Hindalco Industries, TCS, HCLTech, Tech Mahindra, Tata Steel and Wipro were the top losers in early trade.

The broader market remained resilient, with small-cap and midcap indices outperforming the benchmarks.

Nifty Smallcap 50 rose 0.34 per cent, while Nifty Smallcap 250 and Nifty Smallcap 500 gained 0.33 per cent and 0.28 per cent, respectively.

Nifty gained 0.37 per cent on Monday

At close on Monday, the Nifty 50 gained 0.37 per cent to settle at 24,102, while the Sensex advanced 0.38 per cent to close at 77,094.

On the sectoral front, healthcare, pharma, and media emerged as the top-performing sectors, witnessing sustained buying interest throughout the session. On the other hand, FMCG and consumer durables remained under pressure and were the key laggards, reflecting some profit booking in consumption-oriented stocks.

Expert opinion

According to market experts, easing tensions in West Asia and the sharp correction in Brent crude prices below USD 80 per barrel have improved the outlook for India's GDP growth and corporate earnings in FY27, according to IANS.

They noted that stability in the rupee and a moderation in foreign portfolio investor (FPI) selling remain key positives for equities.

However, they cautioned that the progress of the monsoon will be closely watched, as a prolonged rainfall deficit could weigh on rural demand, inflation and sectors such as FMCG.

In the commodities market, international benchmark Brent crude fell 0.5 per cent to USD 77.51 per barrel, while US West Texas Intermediate (WTI) crude declined 0.35 per cent to USD 73.60 per barrel.

(With inputs from IANS)