Indian equity indices closed on a flat note on Monday. The Nifty 50 closed 3.30 points or 0.01% lower, than its previous close, at 24,320.55. Similarly, the BSE Sensex closed 36.22 points or 0.05% lower, than the previous close, at 79,960.38. Divi’s Laboratories, Titan, BPCL, Shriram Finance, and Adani Ports were the major losers in the Nifty 50 on Monday.

Sectoral Index

Bank Nifty fell 234.55 points or 0.45% to end the session at 52,425.80. Outperforming the overall market, Nifty Midcap 100 fell 201.25 points or 0.35% closing the day’s trading at 56,888.20. In the broader markets, smallcap and midcap stocks closed in the red. 

Sectoral draggers

Among the sectoral indices, Nifty PSU Banks and Consumer Durables weighed on the markets. However, the Nifty FMCG bucked the trend.  

Will Nifty hold 24,000 on Wednesday or fall further? See GIFT Nifty, FII data, F&O, crude, and…

Rising global crude oil prices are a cause of concern and anxiety for India, said oil secretary Pankaj Jain on Wednesday. 

“Whenever prices go up, it does cause anxiety, cause concern. Does it stop at $90 per barrel? That’s the matter of anxiety,” Jain said. 

The secretary’s comments come on the backdrop of oil prices having risen to $89 per barrel on Wednesday due to rising geopolitical tensions in the Middle East and between Russia and Ukraine.

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