Markets Open Flat Amid Global Concerns
Sensex edges up 50 points, Nifty opens in green as crude surge and heavy FII selling keep investors cautious
- Sensex opens about 50 points higher while Nifty begins the session in green
- Market sentiment remains cautious due to global geopolitical tensions
- Crude oil prices above $103 per barrel amid Iran–Israel–US conflict
- Heavy FII selling and weak rupee add pressure on domestic markets
GG News Bureau
Mumbai, 16th March: Indian equity markets opened on a flat but slightly positive note on Monday, with benchmark indices showing marginal gains amid cautious global sentiment and continued foreign investor selling.
The BSE Sensex opened around 50 points higher, while the Nifty 50 also began the session in the green, signalling a mildly positive start to the trading day. Earlier, GIFT Nifty had indicated a positive opening for domestic markets.
Despite the initial gains, overall market sentiment remained cautious due to several global and domestic concerns weighing on investor confidence.
One of the key triggers affecting market sentiment is the sharp rise in crude oil prices, which have surged above $103 per barrel, touching a four-year high. The increase comes amid the ongoing Iran–Israel–US conflict, which has heightened concerns over potential disruptions to global energy supply routes.
Although the United States administration has assured safe passage for ships through the Strait of Hormuz, uncertainty around the situation continues to keep markets on edge.
The Indian rupee also remained weak, opening at 92.43 per US dollar, nearly unchanged from its previous close of 92.4550, and hovering near record low levels.
Foreign institutional investors (FIIs) have been aggressively selling Indian equities, adding further pressure on the markets. On Friday alone, FIIs sold shares worth ₹10,716 crore, taking total selling for the month to around ₹56,883 crore.
Other global factors contributing to investor caution include the US Dollar Index rising above 100, marking a four-month high, as well as the upcoming US Federal Reserve interest rate decision scheduled for March 18.
Market participants are closely monitoring geopolitical developments in the Middle East, movements in crude oil prices, foreign fund flows and global monetary policy signals, which are expected to influence trading trends in the coming sessions.
