Indian benchmark indices ended the day with little change as concerns emanating from global trade tensions led to a cautious sentiment from traders. The Nifty 50 settled around 25,461 as the Sensex posted little change for the day reflecting a wait-and-see approach across Dalal Street.
The uncertainty surrounding the timelines of upcoming tariff actions from U.S. policymakers is turning more cloudy as mixed messages have been sent. The direction of crude prices dipped as the surprise increase in crude oil output by OPEC+ added to the fluctuations.
In other sectors, vendors performed better with some stability as investors gravitated towards defensive bets. The Nifty IT and auto indices weighted traders’ positions because of global macros and stock specific corrections.
From the Sensex pack, the biggest gainers were Bharat Electronics, Tech Mahindra, HCL Tech, Eicher Motors, and Maruti. The biggest gainers were Trent, Asian Paints, Bajaj Finserv, Reliance Industries, and HDFC Bank.
For traders looking at the key macro data, as well as corporate earnings later this week, the markets will represent a wait-and-see prospect, and is likely to dictate a range-bound trading strategy, biased on quality names in the FMCG, banking, and energy space.
More to come…
