Mumbai, April 20: Benchmark indices Sensex and Nifty closed almost unchanged in a volatile session on Monday as investors turned cautious amid mounting geopolitical headwinds and rising crude oil prices.
The 30-share BSE Sensex closed marginally up 26.76 points or 0.03 per cent at 78,520.30. During the day, it hit a high of 78,942.45 and a low of 78,203.30, gyrating 739.15 points.
The 50-share NSE Nifty edged up 11.30 points or 0.05 per cent to settle at 24,364.85.
Among the 30-Sensex firms, Trent, State Bank of India, Asian Paints, NTPC, Bajaj Finance and InterGlobe Aviation were the major winners.
Kotak Mahindra Bank, Larsen & Toubro, Bharat Electronics and HCL Tech were among the laggards.
Brent crude, the global oil benchmark, jumped 4.14 per cent to USD 94.12 per barrel.
“Indian equity markets traded under pressure through the session but managed to hold their ground, closing largely flat amid mounting geopolitical headwinds. With the ceasefire nearing expiry and tensions escalating following the US seizure of an Iranian cargo vessel-prompting retaliation threats from Iran-markets lacked clear visibility on a near-term resolution,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
This uncertainty was reflected in India’s VIX, which surged nearly 10 per cent, bringing risk and volatility back into focus, he said.
Oil prices rebounded sharply as Iran reversed its earlier move to reopen the Strait of Hormuz, Ponmudi added. The BSE SmallCap Select index dipped 0.15 per cent and MidCap Select index lost 0.12 per cent.
Power jumped 1.24 per cent, followed by Utilities (0.88 per cent), PSU Bank (0.70 per cent) and Capital Goods (0.55 per cent). (PTI)
