Stock Market Today: Sensex, Nifty Trade Flat Amid Soft Crude, Improved FII Mood

Sensex, Nifty Open Flat as Lower Crude, FII Buying Support Market Sentiment

Indian benchmark indices opened little changed on Monday after posting their longest weekly winning streak of 2026, as investors weighed positive global cues against concerns over a weak monsoon and the approaching June-quarter earnings season.

At around 9:20 am, the BSE Sensex was up 48.58 points, or 0.06%, at 77,149.05, while the NSE Nifty50 gained 44.65 points, or 0.19%, to trade at 24,100.65.

Markets have rallied over the past two weeks, supported by softer crude oil prices, improving foreign institutional investor (FII) flows and easing geopolitical tensions in West Asia following renewed diplomatic engagement between the US and Iran.

Brent crude was trading near $72.40 per barrel, remaining below the crucial $73 level. For India, which imports the majority of its crude oil requirements, lower prices help ease inflationary pressures, improve the current account balance and support economic growth.

• IT Stocks Lag, Pharma Leads Gains
• Sectoral performance remained mixed in early trade.

The Nifty IT index fell nearly 1%, making it the worst-performing sector, while the Nifty MidSmall IT & Telecom index declined 1.60%.

Defensive sectors, however, attracted buying interest. Nifty Pharma and Nifty Healthcare gained over 1% each, while Nifty Metal rose 0.65%. Nifty Financial Services also traded in positive territory, adding 0.41%.

Among the broader markets, the Nifty Midcap 50 edged up 0.09%, whereas the Nifty Smallcap 100 slipped 0.35%.

What’s Driving the Market?

According to Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, subdued crude oil prices continue to provide a favourable backdrop for Indian equities.

He noted that despite lingering geopolitical tensions involving the US and Iran, uninterrupted shipping through the Strait of Hormuz has kept Brent crude below $73 per barrel, reducing a major macroeconomic risk for India.

Vijayakumar also highlighted the improvement in foreign institutional investor sentiment. FIIs have remained net buyers in the cash market over the past nine trading sessions, signalling a shift after months of sustained selling pressure.

He added that increased volatility in South Korean and Taiwanese markets has also encouraged global investors to look more favourably at Indian equities.

Monsoon, Earnings in Focus

Despite the recent rally, market participants remain cautious.

Vijayakumar said the biggest near-term concern is the nearly 43% deficiency in monsoon rainfall so far this season. A meaningful improvement in rainfall could strengthen investor confidence, while a prolonged shortfall may raise concerns over rural demand, agricultural output and inflation.

Attention is also expected to shift towards the June-quarter earnings season in the coming weeks, with corporate results likely to determine stock-specific movements and the broader market direction.