Benchmarks flatline for third day as crude keeps bulls at bay

Markets closed virtually unchanged on Monday, extending a stalemate that has now stretched across three consecutive sessions, as rising crude oil prices and West Asia uncertainty overshadowed relief from softer-than-expected US jobs data.

“Markets traded volatile on Monday and ended almost unchanged as investors balanced easing concerns over the global interest-rate outlook against renewed pressure from crude oil prices and geopolitical uncertainties,” said Ajit Mishra, SVP Research at Religare Broking.

The Nifty 50 gained just 13 points, or 0.05 per cent, to settle at 24,583.80, while the Sensex edged up 43 points, or 0.06 per cent, to close at 78,542.44.

NSE cash-market volumes were 2 per cent higher than the previous session. Market breadth remained slightly negative, with 263 of the Nifty 500 stocks closing in the red and the BSE advance-decline ratio settling at 1.

Sector performance was sharply divided. Nifty Realty led gains with a 1.35 per cent advance, followed by Private Banks, up 0.5 per cent, and Consumer Durables, which added 0.4 per cent.

PSU Banks bore the brunt of the selling, tumbling 1.67 per cent, dragged down by SBI emerging as the session’s biggest Nifty loser. Oil & Gas fell 0.37 per cent and Infrastructure shed 0.40 per cent.

Among individual Nifty constituents, Titan, Tata Consumer Products and Bajaj Finance topped the gainers, while Eternal and ITC also closed lower.

The broader market delivered a mixed showing. The Nifty Midcap 100 gained 0.62 per cent, while the Nifty Smallcap 100 slipped 0.27 per cent.

Both indices, however, continue to hover near their respective all-time highs. Notably, the daily Average True Range on the Nifty has contracted to 208 points, its lowest since January 2026, underscoring the sharp compression in volatility.

The rupee started the week on the back foot, depreciating 9 paise to close near 95.30 against the US dollar, weighed down by a stronger greenback and elevated commodity prices. Technically, spot USDINR is seen edging toward 95.60, with support at 94.90, according to HDFC Securities.

Crude oil remained the overriding concern. Brent rose roughly 1.3 per cent to around $84.6 a barrel, while WTI climbed over 2 per cent to near $79, as Iran conditioned any reopening of the Strait of Hormuz on the US lifting sanctions and its naval blockade.

Elevated energy prices carry direct implications for India’s inflation trajectory, the rupee and the current account deficit. Domestic crude futures advanced to approximately ₹7,500.