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Sensex, Nifty muted a day after sharp rally, IT stocks extend gains. What lies ahead for Dalal Street?
Economic Times 2 hrs ago·14 Oct 2026, 5:36 am
Indian equity benchmarks ended the session nearly flat on Tuesday, pausing their momentum after a sharp rally the previous day. The Nifty 50 and Sensex saw modest gains and losses respectively, with the broader market sentiment remaining cautious. The main driver was the continued strength in the Information Technology (IT) sector, which extended its recent upward trend. Conversely, the Pharma index faced selling pressure, weighing on the overall market performance.
Investors are closely watching two key external factors: rising US bond yields and the price of crude oil. Higher US yields often make domestic equities less attractive to foreign investors, while elevated oil prices can hurt corporate margins and widen the current account deficit. Despite these headwinds, domestic support from short-covering and hopes of fiscal relief kept the market from falling significantly. The focus now shifts to how these global cues interact with domestic earnings.
Moving forward, market participants will be looking for clarity on the upcoming Union Budget, which is expected to provide some relief measures. Traders are also gauging the impact of global cues, particularly US Federal Reserve policy, on foreign portfolio flows. A breakout above key resistance levels will be necessary to sustain the current uptrend, while any negative news on oil or global growth could trigger further volatility.
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