Sensex Climbs Nearly 200 Points as Nifty Holds Above 23,500 Amid Global Market Watch

Indian equity markets traded in positive territory on Thursday as investors tracked global developments closely. The BSE Sensex advanced around 198 points during early trade, while the Nifty 50 remained firmly above the psychologically important 23,500 mark.

Market sentiment remained cautious due to rising geopolitical tensions and elevated crude oil prices, which continue to impact investor confidence globally. Brent crude prices stayed above $105 per barrel as traders awaited developments from the high-level meeting between Donald Trump and Xi Jinping in Beijing.

Analysts believe the Trump-Xi talks are extremely significant for global markets because discussions are expected to focus on trade stability, Middle East tensions, and oil supply disruptions linked to the Strait of Hormuz crisis. Any diplomatic progress could ease pressure on global crude prices and improve investor sentiment across emerging markets like India.

Despite global uncertainty, Indian markets found support from strong quarterly earnings in select sectors, particularly telecom, energy, and FMCG stocks. However, IT shares remained under pressure due to concerns over global economic slowdown and currency volatility.

The Indian rupee also continued to weaken against the US dollar, touching fresh record lows amid sustained foreign fund outflows and expensive crude oil imports. Experts warn that prolonged high oil prices could further increase inflationary pressure on the Indian economy.

Broader market performance remained mixed, with mid-cap and small-cap stocks witnessing selective profit booking. Investors are now closely watching global geopolitical developments, central bank commentary, and commodity price movements for further market direction.

Technical analysts suggest that the Nifty50 may continue to witness volatility in the near term, but holding above the 23,500 zone is being viewed as a positive signal for market stability. Resistance levels are currently seen near the 23,700–23,800 range, while support remains around 23,300.

Market experts also noted that oil price fluctuations are currently the biggest driver of global equity sentiment. Any easing in Middle East tensions or improvement in trade negotiations between major economies could trigger stronger buying momentum in Asian markets.

As investors remain cautious, all eyes are now on the outcome of the Trump-Xi meeting, which may play a crucial role in determining short-term direction for global equities, crude oil prices, and emerging market currencies.