Indian markets split: Sensex down 22, Nifty up 15
Indian stock markets kicked off Thursday with a split mood: Sensex dipped by 22 points, but Nifty edged up 15 points.
Midcap stocks fell while small caps managed to rise, showing that the market is still figuring things out after several sessions of losses.
Bank stocks rally, auto shares slide
Banking stocks had a good morning, with PSU banks up nearly 1%. Auto shares weren't so lucky, dropping over 0.5%.
Mahindra & Mahindra and Adani Ports slipped about 1%, but Axis Bank, SBI, and ITC saw gains close to 1%.
Overall, more stocks advanced than declined.
Crude hits $100, Geojit strategist warns
Crude oil crossing $100 per barrel has everyone watching energy-sensitive sectors like aviation and chemicals.
V K Vijayakumar, Chief Investment Strategist, Geojit Investments, pointed out that if high prices stick around, it could hit GDP growth and company profits.
On the bright side, FMCG and pharma companies are expected to stay steady. Digital platforms are still growing strong, and private banks remain stable even if they're facing some technical bumps right now.