Benchmarks flatline for third day as crude keeps bulls at bay

Markets in India remained virtually unchanged for a third consecutive day on Monday, as investors grappled with rising crude oil prices and geopolitical uncertainties. The Nifty 50 closed 13 points, or 0.05%, higher at 24,583.80, while the Sensex added 43 points, or 0.06%, to close at 78,542.44. Both indices remain near their all-time highs, with the daily Average True Range on the Nifty contracting to its lowest since January 2026, indicating reduced volatility.

Rupee depreciated 9 paise to 95.30 against the US dollar, pressured by a stronger greenback and elevated commodity prices. Crude oil prices rose, with Brent up 1.3% to around $84.6 a barrel and WTI increasing over 2% to near $79, as Iran's stance on the Strait of Hormuz remained dependent on the US lifting sanctions. Sector-wise, Nifty Realty led gains, followed by Private Banks and Consumer Durables, while PSU Banks and Oil & Gas faced significant losses.

Individual stocks like Titan and Tata Consumer Products outperformed, while Eternal and ITC underperformed. The broader market showed mixed results, with Nifty Midcap 100 up 0.62% and Nifty Smallcap 100 down 0.27%. Market breadth remained slightly negative, with 263 of the Nifty 500 stocks closing lower. The coming days will be dominated by the release of US CPI data, which could influence the Federal Reserve's policy outlook and impact risk sentiment.