Falling Crude Brings Relief To Indian Equities, Sensex And Nifty End Slightly Higher As Oil Breaks $100
· Free Press Journal
Mumbai: Indian equity benchmarks opened marginally higher on Wednesday as crude oil prices slipped below $100 per barrel, easing concerns over inflation and India’s import bill. Investors also tracked talks between Donald Trump and Xi Jinping.
At 9.20 am, the BSE Sensex rose 194 points, or 0.26 per cent, to 74,732. The NSE Nifty 50 gained 49 points, or 0.21 per cent, to reach 23,378.
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Broader markets also advanced. The Nifty Midcap 100 climbed 0.33 per cent, while the Nifty Smallcap 100 advanced 0.60 per cent.
Metal Stocks Lead Sectoral Gains
Most NSE sectoral indices traded in positive territory. Nifty Metal led with a 1.06 per cent rise, followed by Nifty FMCG at 0.55 per cent and Nifty PSU Bank at 0.50 per cent.
Nifty’s 4-Day Winning Streak Comes To A Halt, IT And Financial Heavyweights Drag Markets Into The RedNifty IT was the only laggard, declining 0.37 per cent despite renewed AI optimism supporting global technology shares.
Analysts said domestic liquidity supported mid-cap and small-cap stocks, although stretched valuations could increase risks. The market’s technical structure remains weak with a downward bias, making softer crude prices or US bond yields positive triggers.
Key Nifty Levels To Watch
The Nifty closed the previous session 0.43 per cent lower at 23,329 after opening at 23,454. Immediate support is positioned at 23,150–23,200, while resistance remains at 23,450–23,500.
Oil Price Relief Gives Dalal Street A Lift, Sensex And Nifty Edge Higher At Opening BellBank Nifty ended 0.49 per cent lower at 56,215. Support is seen between 55,800 and 56,000, while resistance is placed at 56,500–56,600.
Global Markets Offer Mixed Signals
Asian equities were mixed, with Japan’s Nikkei rising 1.38 per cent, while Hong Kong and mainland Chinese indices declined. Overnight, the Nasdaq gained 0.45 per cent, the S&P 500 finished flat and the Dow Jones fell 0.36 per cent.
Foreign institutional investors sold equities worth ₹3,800 crore on September 22, while domestic institutional investors purchased shares worth ₹4,120 crore.