Mumbai: The Indian benchmark indices traded flat with a mild negative bias on Wednesday amid fears of disruption to Iranian crude exports and sustained FII outflows.
As of 9.25 am, Sensex slipped 74 points, or 0.09 per cent to 83,552 and Nifty eased 12 points, or 0.05 per cent to 25,719. Main broad-cap indices showed slight divergence with benchmark indices, with the Nifty Midcap 100 unchanged, while the Nifty Smallcap 100 added 0.48 per cent.
ONGC, Coal India and NTPC were among major gainers on the Nifty. Sectoral indices were trading mixed with the majority of them in the red. Nifty metal as well as oil and gas were among the major gainers, up 0.84 per cent and 0.32 per cent.
Oil prices jumped 2.8 per cent to a seven-week high on escalating Iran tensions, fuelled by nationwide anti-government protests and US President Donald Trump's public support for demonstrators.
According to market watchers, immediate support for Nifty lies at 25,550–25,600 zone, while resistance remained at 25,850–25,900 zone. Asia-Pacific markets traded mixed during the morning session as traders parsed China’s exports growth data from December which sharply beat expectations.
Japan’s benchmark Nikkei 225 jumped over 1.5 per cent following rising expectations that Prime Minister Sanae Takaichi could call for a snap election, likely in February.
In Asian markets, China's Shanghai index added 1.2 per cent, and Shenzhen gained 1.98 per cent, Japan's Nikkei advanced 1.57 per cent, while Hong Kong's Hang Seng Index gained 0.8 per cent. South Korea's Kospi advanced 0.17 per cent.
The US markets ended mostly in the red overnight as Nasdaq lost 0.1 per cent. The S&P 500 declined 0.19 per cent, and the Dow moved down 0.8 per cent. On January 13, foreign institutional investors (FIIs) sold net equities worth Rs 1,500 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,182 crore.
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.