Stock Market Today: Bulls and bears tussle on Dalal Street; Sensex near 74,500; Nifty above 23,100

Stock Market Today: Indian equity benchmarks opened on a mixed note on Monday. The BSE Sensex started the session slightly lower, while the Nifty 50 opened in positive territory.

At the opening bell, the Sensex was at 74,537.86, down 26.06 points or 0.03 per cent. The index opened at 74,415.79 compared with its previous close of 74,563.92.

Meanwhile, the Nifty 50 opened at 23,116.10, slightly below its previous close of 23,151.10. However, the index quickly moved higher and was trading at 23,178.90, up 27.80 points or 0.12 per cent in early deals.

Add Zee Business as a Preferred Source

FPI selling remains persistent

Foreign portfolio investor (FPI) selling has remained a key factor weighing on sentiment. FPIs have been net sellers on every trading day in March so far, reflecting cautious global risk appetite and pressure from rising global yields.

According to exchange data, total FPI selling through exchanges till 13 March stood at about Rs 54,455 crore. The continued outflow suggests overseas investors remain selective on emerging market equities amid global macro uncertainties.

Recent positioning data also indicates a reduction in bullish bets by foreign investors in derivatives markets. FII index futures long positions declined to 9.93 per cent, down from 10.61 per cent, marking the lowest level in about 37 days. The last time positioning was at similar levels was on 20 January 2026, when it stood at 9.18 per cent.

Selling pressure was also visible across segments. FIIs sold Rs 10,716 crore worth of equities in the cash market on Friday, marking the 11th consecutive day of selling. Across cash, index futures and stock futures combined, FIIs recorded net selling of Rs 16,874 crore for the 11th straight session.

Domestic institutional investors continued to counterbalance some of the outflows. Domestic funds remained net buyers for the 13th consecutive session, purchasing equities worth Rs 9,977 crore.

Global markets weigh on sentiment

Global markets have also shown signs of weakness in recent sessions. In the United States, benchmark indices ended lower on Friday.

The Dow Jones Industrial Average declined 0.26 per cent to close at 46,558, while the S&P 500 fell 0.61 per cent to 6,632. The technology-heavy Nasdaq Composite dropped 0.93 per cent to close at 22,105.

The broader trend has been weak in recent days. Both the Dow and the S&P 500 have fallen for four consecutive sessions, slipping to their lowest levels in about three and a half months. The Dow alone has dropped around 1,200 points over the past four sessions, marking the first time in 2026 that both indices have declined for four straight days.

The Nasdaq has also slipped to around four-month lows, highlighting pressure on growth and technology stocks.

Asian markets trade mixed

Asian markets reflected a mixed trend in early Monday trade. Hong Kong’s Hang Seng Index rose 0.5 per cent to 25,589 in early deals, while Taiwan’s Taiwan Weighted Index edged higher by 0.02 per cent to 33,405.

However, several other regional indices were trading lower. Japan’s Nikkei 225 declined 1.05 per cent to 53,252, Singapore’s Straits Times Index slipped 0.02 per cent to 4,841, and South Korea’s Kospi Index fell 0.38 per cent to 5,466.

Commodities remain elevated

Commodity markets continued to see strong price movements. Brent crude was trading around $104 per barrel, remaining elevated compared with last week’s closing levels. Oil prices have surged sharply in recent sessions and have risen significantly this year.

Precious metals remained volatile but elevated in value. Gold prices moderated slightly in Monday’s opening but were still high at around Rs 1,58,400 per 10 grams for 24-karat gold. Silver prices, however, saw sharper pressure and declined 3.24 per cent to about Rs 2,59,279 per kilogram in early trade.

In the previous session, gold had declined Rs 1,805 to close at Rs 1,58,466, while silver dropped Rs 8,527 to Rs 2,59,435. Over the past three sessions, gold prices have fallen by roughly Rs 4,800, while silver has corrected by nearly Rs 18,400.

Currency and bond markets

Currency markets have also shown pressure on emerging market currencies. The Indian rupee weakened 27 paise to close at 92.46 per US dollar in the previous session, after touching a new all-time low of 92.48 during Friday’s trade.

The U.S. Dollar Index remained firm above the 100 level, hovering near its highest levels since May 2025.

At the same time, the US 10-year Treasury yield strengthened for the fifth straight session, reaching around 4.28 per cent, a seven-week high, reflecting continued tightening expectations in global markets.

Selective strength in global tech

Despite the broader market weakness, some technology segments have remained strong. Memory chip stocks have rallied sharply in recent weeks.

Shares of SanDisk have risen 26 per cent over the past week and nearly 635 per cent over the past six months. Similarly, Micron Technology has gained 15 per cent in the past week and around 170 per cent over the past six months, reflecting strong demand trends in the memory chip segment.

Meanwhile, base metals have seen selling pressure. Copper prices have slipped to four-week lows, while aluminium has corrected sharply after recently touching four-year highs.