US-Iran Ceasefire Talks Keep Indian Markets Steady at Open
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As whispers of a potential US-Iran truce filtered through global wires, India’s stock benchmarks opened flat on Thursday, reflecting a wait-and-watch approach. By 9:21 AM, Sensex hovered at 77,889, down a slim 0.09% or 68 points, with Nifty at 24,303, off 0.11% or 24 points. Broad indices may have stalled, but midcaps and smallcaps bucked the trend, drawing fresh investments.
The Nifty Midcap 100 gained 202 points (0.33%) to 61,563, and Nifty Smallcap 100 rose 97 points (0.53%) to 18,657, fueled by bargain hunting in undervalued names. Sector-wise, Auto and Metals led advances, joined by Healthcare, Energy, Commodities, and Defence. Weak spots emerged in FMCG, Realty, Private Banks, PSE, PSU Banks, and Services sectors.
Among Sensex constituents, standout performers were M&M, Eternal, UltraTech Cement, Maruti Suzuki, Tata Steel, Asian Paints, NTPC, Kotak Mahindra Bank, Trent, Infosys, Axis Bank, and ICICI Bank. The downside featured TCS, HUL, Sun Pharma, Power Grid, HDFC Bank, Titan, BEL, Bajaj Finance, Tech Mahindra, Bharti Airtel, HCL Tech, and ITC.
Asian peers provided a supportive backdrop, with gains across Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta. US bourses ended Wednesday on a high, Dow up 1.24%, Nasdaq +2.02%, driven by robust tech earnings.
At the heart of the market’s poise are intensifying US-Iran dialogues. Iran’s agency reported the foreign ministry’s readiness to reply to US proposals, which include dismantling nuclear ambitions and securing the Hormuz Strait. Trump administration sources reiterated belief in Iran’s willingness to negotiate, hinting at de-escalation.
Institutional flows diverged sharply: FIIs sold Rs 5,834.90 crore worth of stocks on Wednesday, while DIIs absorbed Rs 6,836.87 crore, underscoring local confidence.
With crude prices in focus amid Middle East talks, traders anticipate choppiness but see mid-smallcap strength as a bullish undercurrent. Earnings season and policy cues will likely dictate the day’s direction, as India navigates global headwinds.
