Markets open flat as crude stays near $90, inflation data in focus
Tuesday's session ended on a weak note, with the Nifty shedding 112.10 points or 0.46% and the Sensex falling 388 points, as a sharp rise in crude oil prices dragged both indices below key psychological levels
Markets opened flat on Wednesday as crude oil prices hovered near $90 a barrel, with crude staying in the $89-90 range. The Nifty 50 and Sensex both closed 0.08% and 0.03% lower, respectively, after a weak Tuesday session. Brent crude's rise was driven by stalled Strait of Hormuz negotiations and attacks on shipping. Top gainers included Hindalco, Grasim, State Bank of India and Nestlé India, while Apollo Hospitals, Max Healthcare and Dr. Reddy's Laboratories were among the biggest decliners.
Sector performance varied, with IT and pharma showing strength but banking stocks under watch. The rupee fell for a second day, and foreign investors became more selective. US July CPI data is expected to be a key global trigger.
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