Sensex, Nifty end flat amid Strait of Hormuz uncertainty; PSU banks, FMCG stocks drag

On Monday, major stock indexes closed slightly up after moving within a tight band throughout most of the trading day, as investors stayed wary due to doubts about a possible agreement to reopen the Strait of Hormuz.

Positive performance in a few sectors kept the market in the green, even as PSU banks and FMCG shares slipped.

The Nifty rose 13.15 points, or 0.05%, finishing at 24,583.80, and the Sensex gained 43.27 points, or 0.06%, ending the day at 78,542.44.

Analysts noted that the 24,600‑24,700 band remains the near‑term resistance level for the Nifty.

“A clear move above 24,700 could boost buying interest and pave the path toward 24,800,” said an analyst.

“On the flip side, 24,500 serves as the key immediate support; staying above it is essential to avoid further weakness. A firm drop below 24,500 could intensify selling pressure and push the index toward the 24,400‑24,300 zone,” remarked a market expert.

Both indexes traded in a tight range for the day before closing modestly higher.

Investor sentiment stayed cautious as traders kept an eye on global events that might affect oil prices and overall risk tolerance.

The subdued action in the main indexes mirrored a wait‑and‑see stance by market participants.

Within the Nifty basket, State Bank of India, ITC, and Eternal were the biggest losers, dragging down the overall indices.

The wider market showed mixed results: the Nifty MidCap rose 0.62%, whereas the Nifty SmallCap fell 0.27%.

Sector‑wise, the Nifty PSU Bank index lagged the most, slipping close to 2%.

The Nifty Pharma and Nifty FMCG indexes also closed in negative territory.

Conversely, real estate shares drew buying interest, with the Nifty Realty index leading as the best‑performing sector of the day.

Experts observed that, although the market ended higher, the absence of a strong directional move highlighted ongoing investor caution, as participants awaited clearer signals on global geopolitical events and their possible effects on energy markets and economic growth.

“Market momentum is expected to stay positive this week, as the concluding phase of the Q1FY27 earnings season is poised to influence both individual stocks and the broader market,” said a market expert.