In a tale of two markets, India’s benchmark indices opened virtually unchanged on Thursday, caught between domestic resilience and global headwinds. The BSE Sensex shed a mere 60 points to 83,757.54, and NSE Nifty lost one point to 25,755, signaling a cautious trading debut.
The metal sector led the decline, with Nifty Metal emerging as the biggest loser among key indices. Defense, real estate, pharmaceuticals, healthcare, infra, commodities, services, and automobiles joined the downturn. Bright spots included oil, FMCG, media, and information technology, which traded positively.
Smaller stocks felt the pinch more acutely: Nifty Midcap 100 fell 0.30% or 179 points to 59,504, while Nifty Smallcap 100 dropped 0.80% or 137 points to 17,070. This divergence highlights broader market rotation away from high-beta names.
Sensex heavyweights showed split performances. Gainers featured Hindustan Unilever, Infosys, Trent, TCS, ICICI Bank, NTPC, State Bank of India, and HCL Technologies. Losers comprised IndiGo, Bharat Electronics, Larsen & Toubro, Tata Steel, Bharti Airtel, Sun Pharmaceutical, Maruti Suzuki, Axis Bank, Titan Company, Asian Paints, Power Grid, and ITC.
Overnight, Asian markets were mostly red: Tokyo, Shanghai, Hong Kong, Bangkok, and Seoul down, with Jakarta the lone exception in green. Wall Street’s Wednesday close was mixed, contributing to the ambivalence.
Commodity pressures intensified, with gold and silver prices tumbling. On MCX, April 2026 gold contract weakened 1.46% to ₹1,50,813, and March 2026 silver dived 9% to ₹2,44,654. Internationally, Comex gold breached $5,000/oz and silver $80/oz downwards. Crude benchmarks slid too—Brent crude 2.16% lower at $68/barrel, WTI at $63/oz.
Market participants are parsing these developments closely, with potential for volatility as FII flows, rupee movements, and global oil dynamics play out. A recovery in metals could lift sentiment, but persistent weakness might test key support levels.