Sensex dips, Nifty edges up; rupee strengthens on US-Iran talks
Indian benchmark indices traded mixed on Monday, with the BSE Sensex declining 63.65 points to 77,047.63, while the Nifty 50 rose 16.55 points to 24,070.20. The divergence reflected cautious optimism among investors as renewed diplomatic efforts between the United States and Iran boosted sentiment.
The Indian rupee opened at 94.25 against the US dollar on Monday, stronger than its previous close of 94.39. This represents an appreciation of 14 paise, contrary to some earlier reports of a decline. The currency's movement is closely watched as a gauge of economic stability.
In global commodities, Brent crude oil climbed 0.85% to USD 72.6 per barrel, while US West Texas Intermediate crude rose over 1% to USD 70.01 per barrel. The uptick in oil prices came amid persistent Middle East tensions, though diplomatic channels remain open.
Asian equity markets fell 0.4% on average, reflecting global uncertainty. Despite the day's mixed performance, domestic equities have posted weekly gains for three consecutive weeks, supported by easing crude prices, measures to support the rupee, and improved foreign investment sentiment.
Market analysts advised investors to remain cautious, as geopolitical developments and crude oil volatility continue to influence the direction of Indian equities and currency.
