Stock Market Highlights: Markets Flat, Nifty in Green, Sensex down 10 points; IndusInd Bank crashes 27%

Indian domestic indices ended the day on a flat note, with the Sensex closing at 74,102.32, down 0.02%, while the Nifty managed to inch up to 22,497.90, gaining 0.17%.

The BSE Midcap index is trading nearly 1% higher, while the Smallcap index is down 0.5%. Among sectoral indices, realty saw a 4% surge, followed by telecom, which is up 2%, and oil & gas, advancing 1.5%.

In the Nifty segment, a total of 2,862 stocks were traded, with 756 advancing and 2,033 declining, while 73 stocks remained unchanged. The market saw 12 stocks hitting their 52-week high, whereas 167 stocks touched their 52-week low. In addition to this, 35 stocks were locked in the upper circuit, while 171 stocks hit the lower circuit.

"Comex gold closed below $2,900 per ounce on Monday as investors took profits amid growing recession concerns driven by trade policies under Trump. Investors were particularly worried that tariffs could exacerbate the risks of an economic downturn. In a televised interview, Trump acknowledged a "period of transition" but emphasized efforts to restore US wealth," said Kaynat Chainwala, AVP-Commodity Research, Kotak Securities.

"However, the sharp decline in gold prices was limited due to a softer dollar and lingering trade war risks. US Commerce Secretary Howard Lutnick stated that Trump would not ease pressure on tariffs against Mexico, Canada, and China. Today, gold prices are trading above $2,900, supported by high geopolitical tensions," he added.

Global brokerage firm Citi Group has shifted its stance on US equities, downgrading them from “overweight” to “neutral,” while upgrading China to “overweight.” The firm believes the era of US market dominance may be on pause for now.

According to Citi’s latest report, economic indicators from the US are expected to lag behind the rest of the world in the coming months. This shift, as per the brokerage report suggests, makes a strong comeback for US markets unlikely, at least in the short term. Instead, Citi sees better opportunities in China, betting on its recovery and growth potential.

"A significant consequence of the ongoing market correction is that India is now outperforming the US. During the last one month, while S&P 500 is down 7.5% Nifty is down only 2.7%. More importantly, the dollar index is down from 109.3 when Trump assumed presidency to 103.71 now. If this trend continues it will be good for emerging markets like India. Capital outflows from India will decline," Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The Indian stock market began the day on a weak note, with both Sensex and Nifty slipping into the red amid global uncertainties. The Sensex opened at 73,743.88, a decline of 0.50%, while the Nifty started at 22,352.55, down 0.48%.

In the pre-open session today, the Sensex dropped 782 points, or 1.06%, to 73,332, while the Nifty slipped 144 points, or 0.64%, to 22,315.

Oil prices continued their downward slide for the second straight day as concerns grew over the impact of US tariffs on global economic growth and energy demand. Adding to the pressure, OPEC’s decision to ramp up supply has further weighed on market sentiment. With fears of a slowdown looming, investors remain cautious about the future trajectory of crude prices.

GIFT Nifty indicates a weak start for Indian markets, hinting at a gap-down opening as the index trades lower by over 100 points.