Sensex, Nifty rise for fourth straight session as easing crude oil prices lift sentiment

The Nifty 50 index closed higher for the fourth straight session on Monday, lifted by declining crude oil prices and improved global cues. The index ended at 23,414.30, up 0.29 percent, while the Sensex gained 0.76 percent to close at 74,858.99. The broader market, however, lagged behind. Pharma, healthcare, realty and FMCG sectors outperformed, each gaining more than 1 percent, indicating a shift towards defensive and domestically oriented plays.

Metals and IT sectors, on the other hand, lagged. Foreign institutional investors sold equities worth around ₹709.50 crore, while domestic institutional investors continued to support the market by investing ₹2,675.27 crore. Despite the positive sentiment, market breadth remained weak, with 285 stocks ending lower in the Nifty 500 universe.

The rupee edged up around 0.11 percent to 95.81 against the dollar, supported by the recent decline in crude prices. However, elevated global bond yields, geopolitical tensions, and currency weakness remain key risks for investors. The rupee is expected to range between 95.45 and 96.15. Gold faced mild profit-taking pressure due to the Dollar Index climbing above 100.

Nifty remains resistant in the 23,500-23,600 zone, with 23,300-23,200 acting as immediate support. A decisive move above 23,600 could signal a stronger recovery. The Nifty will closely monitor crude oil price direction, core sector data, global bond yields, and developments in the U.S.-Iran diplomatic front.