Indian equity markets opened on a subdued note on Monday as investors and traders closely monitored developments surrounding the US-Iran ceasefire and upcoming diplomatic talks.
Cautious sentiment kept benchmark indices largely unchanged despite gains in select sectors.
The Nifty opened at 24,061.75, rising 5.75 points or 0.02 per cent, while the Sensex slipped 45.26 points, or 0.06 per cent, to open at 77,055.21.
Healthcare and pharmaceutical stocks emerged as the top performers in early trade.
The Nifty Healthcare Index gained 0.53 per cent, while the Nifty Pharma Index advanced 0.52 per cent.
FMCG stocks also traded in positive territory, rising 0.24 per cent.
On the other hand, technology shares remained under pressure.
The Nifty IT Index declined 0.58 per cent, followed by the Nifty Auto Index, down 0.44 per cent, and the Nifty Oil & Gas Index, which fell 0.38 per cent.
Among the major laggards on the Nifty were Kotak Mahindra Bank, InterGlobe Aviation (IndiGo), Mahindra & Mahindra, Infosys, HCL Technologies and Tata Consultancy Services.
Market experts said technical indicators continue to suggest consolidation with a mildly positive bias.
Experts said the market remains below the key resistance level of 24,200-24,250, with the Nifty expected to trade between 23,800 and 24,250 until a breakout determines its next move.
Brent crude rose to $72.78 per barrel, while WTI crude climbed close to $71 per barrel.
Asian markets were mixed, with Japan’s Nikkei declining, Hong Kong’s Hang Seng gaining over 2 per cent, and South Korea’s KOSPI falling more than 2 per cent.
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