Benchmarks recovered partially from their session lows but continued to trade sharply lower around midday on Monday, as escalating Middle East tensions and surging crude oil prices kept investor sentiment under pressure.
As of 12.30 pm, the BSE Sensex was trading at 76,790.13, down 760.12 points or 0.98 per cent, having opened at 75,937.16 earlier in the session. The NSE Nifty 50 was at 23,838.30, down 212.30 points or 0.88 per cent, recovering from its opening level of 23,589.60. The partial recovery suggests some buying interest emerging at lower levels, though the broader tone remained negative.
Market breadth on BSE reflected the cautious sentiment. Of 4,364 stocks traded, 1,798 advanced while 2,375 declined and 191 remained unchanged. As many as 109 stocks hit 52-week highs against 38 at 52-week lows, while 237 stocks were locked in upper circuits and 133 in lower circuits.
Among Nifty 50 gainers, HDFC Life led with a rise of 3.05 per cent to ₹622.55 against a previous close of ₹604.15, ahead of its Q4 FY26 earnings announcement this week. Adani Enterprises gained 2.83 per cent to ₹2,145.90 from ₹2,086.80. NTPC rose 1.64 per cent to ₹386.40 against ₹380.15, while Max Health climbed 1.32 per cent to ₹965.95 from ₹953.35. Bharti Airtel advanced 1.05 per cent to ₹1,889.70 against a previous close of ₹1,870.
On the losing side, Eicher Motors was the top Nifty loser, down 4.03 per cent to ₹7,124.50 from ₹7,424. Maruti Suzuki fell 3.90 per cent to ₹13,174 against ₹13,709, with both auto stocks reflecting the direct impact of surging crude oil prices on input cost concerns. Reliance Industries dropped 2.67 per cent to ₹1,314.10 from ₹1,350.20. Bajaj Finance declined 2.22 per cent to ₹904 from ₹924.55, and HDFC Bank shed 2.15 per cent to ₹792.90 against a previous close of ₹810.30.
MCX crude oil was trading above ₹9,830, recovering from recent lows near ₹8,500. US crude was near $105, with Ponmudi R, CEO of Enrich Money, noting that “a sustained move above $107.50 could accelerate the rally toward $110.” The USD/INR pair was near 93.35, with the rupee under pressure. “A sustained move above 93.70 could extend gains toward 94.00–94.30,” Ponmudi added, pointing to near-term depreciation risks.
COMEX gold was holding within the $4,700–$4,750 range, while MCX gold was trading in the ₹1,51,500–₹1,52,000 band with limited buying conviction. MCX silver was hovering above ₹2,38,000 amid elevated volatility.
With the market still around few hours from closing, direction through the remainder of the session is expected to be shaped by crude oil movement, any fresh geopolitical developments, and institutional flows, with FIIs having turned net buyers by a marginal ₹672 crore on Friday before sentiment reversed.