Benchmark equity indices Sensex and Nifty were trading higher in early trade on Monday, driven by buying in blue-chip stocks HDFC Bank and Infosys amid positive global cues.
However, persistent geopolitical tensions and elevated crude oil prices continue to hamper risk appetite, an expert said.
The 30-share BSE Sensex climbed 202.42 points to 77,744.15 in early trade. The 50-share NSE Nifty was up 55.35 points to 24,309.
Among the 30 Sensex firms, Infosys, HCL Tech, Tata Steel, Tech Mahindra, Tata Consultancy Services and HDFC Bank were among the major winners.
Asian Paints, Titan, Power Grid and Bharat Electronics were among the laggards.
Brent crude, the global oil benchmark, traded 1.32 per cent lower at USD 93.14 per barrel.
“Middle East tensions continue to shape the broader market mood. Iran has warned of retaliation against countries participating in the US ‘economic war’, reinforcing concerns that the confrontation could deepen rather than ease in the near term.
“For Indian investors, the prolonged US-Iran standoff and its implications for energy prices remain a key source of uncertainty,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were trading lower.
US markets ended higher on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 542.71 crore on Friday, according to exchange data.
On Friday, the Sensex ended almost unchanged from the previous close at 77,540.83, up 3.11 points. The Nifty also ended flat, up 20.15 points, or 0.08 per cent, at 24,252.
-PTI
