The markets opened the week on a steady note on Monday, where the BSE Sensex rose over 50 points in early trade, while the Nifty 50 managed to stay above the key 26,350 mark, indicating cautious optimism among investors .
Buying interest was seen in select banking, FMCG and consumer stocks, which helped support the indices. Shares of some private banks and financial services companies moved higher as investors positioned themselves ahead of the ongoing December quarter earnings season. Consumer-focused stocks also saw gains following positive business updates and stable demand outlook.
On the downside, IT and metal stocks faced mild selling pressure. Technology shares slipped as investors remained cautious due to uncertainty around global growth and currency movements. Metal stocks also traded lower, tracking weak cues from international markets and concerns over demand.
Market sentiment remained fragile due to rising geopolitical tensions overseas, particularly after reports of US military action in Venezuela. These developments pushed investors to remain selective, leading to range-bound trade during the morning session. Crude oil prices and global market trends were closely monitored, given their potential impact on inflation and market volatility .
The broader market showed mixed performance, with mid-cap and small-cap stocks trading flat to slightly positive. The Indian rupee weakened marginally against the US dollar, adding to cautious sentiment.