Indian markets likely quiet as oil rises, West Asia tensions
Indian stock markets are set for a quiet start this Monday, thanks to rising oil prices and ongoing tensions in West Asia.
With crude hovering around $86 a barrel and talk of US sanctions on Iran, investors are feeling cautious.
GIFT Nifty futures point to a slow opening near 24,350 as everyone waits for Tuesday's derivatives expiry.
Market breadth improves to over 60%
Sector shifts are shaping the action: financial and metal stocks are seeing some buzz from delivery-based buying and short covering, while realty, pharma, and select Defence names might face profit-taking.
Midcap IT stocks are doing better than big names right now: something to watch if you're into tech.
Even with a dip in overall market optimism, more than 60% of stocks are trading above their long-term averages (up from 50% last month), showing some resilience despite global worries.
High oil weighs on investor confidence
Elsewhere, a softer DXY, Treasury yields and firm precious metals continue to support risk assets.
But high oil prices and geopolitical uncertainty keep weighing on investor confidence.