Sensex, Nifty Post Marginal Gains As Crude Prices Fall Below $100 Per Barrel Mark

Sensex and Nifty opened marginally higher on Wednesday as crude oil prices fell below $100 per barrel.

Investors remained focused on global tensions ahead of scheduled talks between US President Donald Trump and Chinese President Xi Jinping.

The Sensex gained 194 points, or 0.26 per cent, to 74,732. The Nifty rose 49 points, or 0.21 per cent, to 23,378.

Broader markets traded in line with the benchmarks. Moreover, the Nifty Midcap 100 gained 0.33 per cent, while the Nifty Smallcap 100 advanced 0.6 per cent.

Markets Track Global Cues

Most NSE sectoral indices traded higher, except Nifty IT, which fell 0.37 per cent. Nifty Metal led the gains at 1.06 per cent, followed by FMCG at 0.55 per cent and PSU Bank at 0.5 per cent.

Analysts said the market structure remained technically weak with a downward bias without significant triggers. They said a sharp fall in crude prices or US bond yields could provide such a trigger.

They noted that domestic liquidity continues to support the broader market.

Strong growth prospects are attracting investment in mid- and small-cap stocks, but valuations remain stretched.

Global cues remained mixed. Asian markets broadly gained, supported by technology stocks, while Wall Street remained near record levels amid renewed optimism around artificial intelligence.

In the previous session, Nifty closed at 23,329, down 0.43 per cent. Bank Nifty ended at 56,215, down 0.49 per cent.

China’s Shanghai and Shenzhen indices fell 0.34 per cent and 0.57 per cent, while Japan’s Nikkei gained 1.38 per cent. Hong Kong’s Hang Seng declined 0.78 per cent and South Korea’s Kospi rose 0.08 per cent.

Overnight, Nasdaq gained 0.45 per cent, the S&P 500 remained flat and Dow Jones fell 0.36 per cent.

On September 22, FIIs sold equities worth Rs 3,800 crore, while DIIs bought shares worth Rs 4,120 crore.

Also Read: Nifty Breaks Four-Session Winning Streak As IT Stocks Lead Market Decline