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Stock market today: Indian stock market opened marginally higher on Thursday, with the Stock market today showing a cautious start despite Brent crude prices crossing the USD 100-per-barrel mark amid worsening geopolitical tensions. The BSE Sensex rose 68.06 points, or 0.09 per cent, to 74,832.29, while the NSE Nifty 50 gained 15.10 points, or 0.06 per cent, to 23,446.60.

The early gains came even as global pressure points continued to weigh on the Stock market today. Brent crude was at USD 101.02 per barrel, down 0.18 per cent, while crude oil edged up USD 0.05, or 0.05 per cent, to USD 96.10. Gold also gained USD 9.65, or 0.22 per cent, to USD 4,407.80.

Stock market today faces pressure from crude, US yields and Fed outlook

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the market had turned weak after the Nifty slipped below the 23,500 resistance level. He said the index remained technically vulnerable to further correction as fundamental macro trends also deteriorated. Brent had crossed USD 101, while the US 10-year yield had risen to 4.83%.

Vijayakumar said the probability of a Federal Reserve rate hike this month had increased, adding to concerns for the Stock market today. He also said geopolitical tensions in the Middle East were worsening and markets were not responding to US President Donald Trump’s “tall talk” that “the war will end immediately after the election (US mid-term)”.

Stock market today could feel impact if oil stays above $100

Vijayakumar said India’s forex reserves remained comfortable and its current account deficit was under control. However, he warned that if crude stayed above USD 100 for an extended period, it could hurt India’s GDP growth this year and affect corporate earnings.

He identified aviation, paints, adhesives, tyres and chemicals as energy-sensitive sectors likely to face pressure. On the other hand, FMCG, pharmaceuticals and healthcare could remain resilient, while digital platform companies were expected to stay on strong footing. He added that large private-sector banking stocks were technically weak but fundamentally strong, making their risk-reward favourable for long-term investors.

Stock market today gets weak global cues as Asian markets fall

Rajesh Palviya, Head of Research at Axis Direct, said Asian markets were trading lower as elevated crude prices weighed on risk appetite. Gold remained firm near USD 4,400 an ounce on safe-haven demand, while Brent above USD 101 remained a significant inflationary headwind for India.

At the time of reporting, Japan’s Nikkei 225 was down 0.71 per cent, Hong Kong’s Hang Seng fell 1.51 per cent and the Straits Times declined 0.67 per cent. GIFT Nifty was marginally higher at 23,513.50. In the US, Dow Jones Futures rose 0.35 per cent, while the S&P 500 fell 0.48 per cent to 7,636.36 and Nasdaq declined 0.64 per cent to 26,253.34.

Stock market today may stay volatile as Nifty faces key levels

Palviya said the market undertone remained fragile while the Nifty traded below the 23,600 resistance zone. He placed immediate support near 23,350, saying a decisive break below it could take the index towards 23,150. However, any fall in crude prices or easing of geopolitical tensions could trigger a relief rebound. For now, traders should remain cautious, with volatility likely to remain elevated.

(with inputs from ANI)

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