Equities end on a mixed note as geopolitical risks persist

Mumbai: Benchmark indices ended mixed on Thursday, with the Sensex rising nearly 114 points and the Nifty sliding over 40 points, as elevated crude prices and geopolitical uncertainty made investors cautious.

Fag-end buying helped the BSE Sensex end the session in the positive territory. The 30-share index settled 113.61 points, or 0.15 per cent, higher at 78,079.96. During the day, the benchmark hit a high of 78,119.39 and a low of 77,665.89, gyrating 453.5 points. The 50-share NSE Nifty was marginally down 40.10 points, or 0.16 per cent, to end at 24,395.85, registering its third day of decline.

From the Sensex pack, InterGlobe Aviation, NTPC, Bharat Electronics, Larsen & Toubro, Hindustan Unilever and Eternal were among the winners. ICICI Bank, Titan, Reliance Industries, UltraTech Cement and Infosys were among the major laggards.

Elevated crude oil prices remain a key overhang, with geopolitical uncertainty in the Middle East preventing a stronger risk-on move, Vinod Nair, Head of Research, Geojit Investments Limited, said.

“The market continues to exhibit resilience but lacks a strong directional trigger. While expectations of a less restrictive US monetary policy have improved the global investment backdrop, elevated crude prices and geopolitical uncertainty are keeping domestic investors cautious,” Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm, said.

Until there is greater clarity on energy markets, Indian equities are likely to remain range-bound, with corporate earnings and stock-specific developments continuing to drive market performance, he added.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,002.50 crore on Wednesday, according to exchange data. On Wednesday, the Sensex declined 187.90 points, or 0.24 per cent, to settle at 77,966.35. The Nifty dipped 35.75 points, or 0.15 per cent, to end at 24,435.95.