Benchmark stock market indices opened on a muted note on Tuesday, with mixed cues across sectors even as crude oil prices remained elevated.
The BSE Sensex was trading at 77,294.03, down 9.60 points or 0.01% at around 9:41 am. The NSE Nifty 50 stood at 24,127.90, up 35.20 points or 0.15%.
Nifty opened at 24,049.90 and touched a high of 24,133.65 and a low of 23,999.25 in early trade, showing a narrow range movement.
OIL PRICES REMAIN HIGH
Crude oil prices remained elevated, keeping market sentiment cautious. Brent crude was trading at $109.64 per barrel, up 1.30%, while WTI crude stood at $97.67, up 1.35%.
The rise in oil prices is being closely tracked by investors as it could impact inflation and overall market sentiment.
Among Sensex stocks, M&M, Tata Steel, Kotak Bank, BEL and Adani Ports were among the top gainers in early trade.
Other stocks such as L&T, NTPC, Bajaj Finance, Maruti, TCS and Titan also saw buying interest.
On the losing side, IT and banking stocks saw some pressure. HCLTech, Infosys, Axis Bank and SBI were among the key laggards.
FMCG stocks like Hindustan Unilever and aviation stock IndiGo also traded lower, along with UltraTech Cement and Trent.
Sector-wise, the trend was mixed.
Nifty Auto rose 0.59%, Nifty Metal gained 0.40%, and Nifty Media was up 0.32%. Nifty Consumer Durables also advanced 0.47%.
On the other hand, Nifty PSU Bank declined 1.24%, while Nifty Realty slipped 0.44%. Nifty IT was slightly lower by 0.23%, and FMCG remained flat to negative.
Nifty Oil & Gas gained 0.75%, tracking firm crude prices, while Nifty Financial Services was largely flat with a marginal gain of 0.05%.
The market is currently showing a cautious tone, balancing sectoral gains with pressure in banking and IT stocks.
Rising crude prices remain a key concern for investors, even as selective buying in metals, auto and capital goods stocks is supporting the market.
Overall, the early trade suggests a range-bound session with stock-specific action likely to drive the market through the day.
