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Indian Markets Trade Flat as Oil Prices Rise; IT, Auto Stocks Gain

Indian equity markets traded flat on Friday amid mixed global cues, with Nifty down 0.11% and Sensex lower by 0.2%. Oil prices rose, with Brent crude trading at $107.38 per barrel. Sectorally, Nifty IT and Nifty Auto emerged as top gainers, while Nifty Metal and Realty declined. A market expert noted that investors should watch trends like weak IT stocks and strong pharma performance, reflecting market expectations versus actual results.

Key Points: Indian Markets Flat Amid Mixed Global Cues, Oil Rises

  • Indian markets flat with Nifty down 0.11%
  • Oil prices rise, Brent at $107.38
  • IT and Auto stocks gain, Metal and Realty lag
  • Mixed global cues from Asia and US
2 min read

Indian markets trade flat amid mixed global cues, oil prices rise

Indian equity markets trade flat on Friday; Nifty down 0.11%, Sensex lower by 0.2%. Oil prices rise, IT and auto stocks gain, while metals and realty lag.

"This reflects the gap between market expectations and actual results. - Market Expert"

Mumbai, May 15

Indian equity markets traded flat in early trade on Friday amid mixed global cues from Asian and US markets.

Nifty was trading at 23,663, down 0.11 per cent or 26.25 points from the previous close, while Sensex was at 75,251, lower by 0.2 per cent or 147 points in the morning session.

On the sectoral front, indices such as Nifty Metal, Nifty Realty, and Nifty Oil & Gas were among the top losers, declining up to 1 per cent. Meanwhile, Hindalco Industries, Trent, Bharat Electronics Ltd (BEL), Eternal, and Asian Paints were among the top laggards in the Nifty pack.

On the other hand, Nifty IT and Nifty Auto emerged as the top gainers. Category-wise, small-cap and micro-cap stocks remained under pressure.

According to a market expert, the decision to increase petrol and diesel prices by Rs 3 per litre and CNG prices by Rs 2 per kg indicates that the government is playing it safe through gradual hikes without triggering a sharp spike in cost-push inflation.

"This is a welcome step," the expert said.

The expert further stated that investors need to watch certain market trends closely, adding that the market is responding strongly to robust Q4 earnings, with some stocks witnessing double-digit gains, while poor results are leading to sharp double-digit declines in other counters.

"This reflects the gap between market expectations and actual results. Another important trend is the continuing weakness in IT stocks and sustained strength in pharmaceutical stocks. This reflects the market's perception of the prospects of these sectors in the current challenging environment," the analyst added.

In the commodities market, global benchmark Brent crude rose 1.57 per cent to trade at $107.38, while US West Texas Intermediate (WTI) crude advanced 1.72 per cent to $102.92.

Asian markets, meanwhile, witnessed a mixed trend. Japan's Nikkei and Hong Kong's Hang Seng declined around 1 per cent each, while South Korea's KOSPI dropped more than 3 per cent.

In the US, Wall Street closed on a positive note overnight, with the S&P 500 gaining 0.77 per cent and the Nasdaq ending 0.88 per cent higher.

- IANS

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Reader Comments

P
Priya S
Markets flat is better than falling, but that crude oil jump to $107 is worrying. We're still importing so much, and that will hit our trade deficit. IT stocks struggling is a sign of global slowdown—need to watch that closely.
M
Michael C
Mixed global cues are the new normal. Asian markets like KOSPI dropping 3% is significant—glad our indices are holding up. Pharma strength is interesting; that sector often shines when uncertainty hits. Let's see if earnings validate the optimism.
A
Ananya R
Good to see Nifty above 23,600 despite global headwinds. But that gap between market expectations and actual results is scary—some stocks are crashing 10% on poor earnings. Retail investors be careful! 🚨
J
James A
Respectfully, the expert calling a petrol price hike "welcome" is tone-deaf. For millions of Indians commuting daily, this adds Rs 500-1000 per month to expenses. Gradual or not, it still pinches. Markets flat is one thing, but real lives feel the burn.
V
Vivek B
Small-cap and micro-cap stocks under pressure—this is the correction many predicted after insane rally. Not surprising. IT weakness continues—looks like global recession fears are real for that sector. Pharma is the safe haven now. 📈
S
Sarah

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