Indian equity markets ended Monday’s trading session on a subdued note, with both benchmark indices closing virtually unchanged, as investors adopted a cautious stance ahead of key developments on the India-US interim trade agreement and U.S. monetary policy outlook.
The BSE Sensex edged up by 9.61 points to settle at 83,409.68, while the NSE Nifty closed marginally higher by 0.30 points at 25,461.30. The indices traded within a narrow range throughout the day, reflecting a lack of clear direction amid global trade uncertainties.
The market remained range-bound as investors weighed the possibility of the U.S. reimposing tariffs on select Indian goods, with the 90-day tariff reprieve nearing expiry. The absence of a formal trade announcement between the two countries kept sentiment muted.
“Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound,” said Sundar Kewat, Analyst at Ashika Institutional Equity. “The street is waiting for clarity on trade negotiations, as well as cues from the upcoming U.S. Federal Reserve meeting minutes.”
Mixed Sectoral Performance
Sectorally, FMCG, oil & gas, real estate, and consumption-oriented stocks saw moderate buying interest. However, weakness was visible in media, metals, IT, and automobile stocks.
On the Sensex, key gainers included Hindustan Unilever, Adani Ports, Kotak Mahindra Bank, Asian Paints, ITC, Power Grid, NTPC, Bharti Airtel, and Sun Pharma.
Among the major laggards were Mahindra & Mahindra, Tata Motors, Tata Steel, HDFC Bank, Bajaj Finance, Larsen & Toubro, TCS, SBI, and Infosys.
In the Nifty 50 basket, 22 stocks advanced, while 28 declined.
Broader Markets Underperform
The broader market underperformed the benchmarks. The Nifty Midcap 100 index fell by 0.27%, or 162 points, while the Nifty Smallcap 100 lost 0.44%, or nearly 83 points. Defensive buying helped indices like Nifty FMCG and Nifty 100 to stay in the green.
Rupee Slides Against Dollar
On the currency front, the Indian rupee weakened by 47 paise to close at 85.87 against the U.S. dollar, reflecting dollar strength amid ongoing global trade uncertainty and expectations from the Fed.
Outlook
With markets awaiting clarity on India’s trade engagement with the U.S. and the release of the Fed meeting minutes, analysts expect continued consolidation in the near term. Any update on tariff policy or signals on interest rate changes from the U.S. central bank could drive the next phase of market movement.
–Input IANS
