Sensex rose 43 points; crude jumped 1.1% to $84.47 with Strait of Hormuz uncertainty weighing. FIIs bought Rs 480 crore. US inflation data looms.
Alpha Score of 57 reflects moderate overall profile with weak momentum, strong value, moderate quality, moderate sentiment.
Indian equities ended Monday largely unchanged. A jump in crude oil prices and geopolitical uncertainty around the Strait of Hormuz offset softer US jobs data that reinforced expectations of a less restrictive Federal Reserve.
Brent crude rose 1.1% to $84.47 a barrel, extending gains from last week. The move came with continued tensions in the Middle East, traders watching for any disruption to tanker traffic through the Strait of Hormuz. The uncertainty "continued to temper risk appetite," said Vinod Nair, Head of Research at Geojit Investments Limited. Still, he noted that encouraging corporate earnings lent some support to broader sentiment.
The Strait of Hormuz is a critical chokepoint for global oil shipments. A disruption there would raise India's import costs directly, since the country relies on the Middle East for roughly 60% of its crude purchases. That risk kept a lid on equity gains, even as domestic earnings season has produced some positive surprises.
The Sensex settled at 78,542.44, after swinging between 78,298.92 and 78,676.98. The Nifty closed at 24,583.80, up 13 points.
Among Sensex stocks, Titan and Bajaj Finance led the gainers. Others on the winning list included Bajaj Finserv, Tata Steel, Asian Paints, and Infosys. The IT major, which carries an Alpha Score of 57, has been a beneficiary of recent buying. On the losing side, State Bank of India, NTPC, ITC, and Tata Consultancy Services slipped.
Foreign institutional investors bought equities worth ₹480.24 crore on Friday, exchange data showed. That came after a softer-than-expected US jobs report weakened the case for further Fed tightening. Nair said investors are now focused on upcoming US inflation readings for fresh direction on rates and bond yields.
Ponmudi R, CEO of Enrich Money, described the session as largely unchanged, with rising crude oil prices and lingering Middle East uncertainty offsetting optimism from the jobs data. He said investors remained on the sidelines ahead of key inflation readings due in both India and the United States later this week.
Asian markets ended higher, with South Korea's KOSPI, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng all closing in positive territory.
US CPI is due Wednesday, with Indian CPI following on Thursday.
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