Indian markets open flat amid weak global cues; lower oil prices support medium-term outlook

Indian markets opened flat on Thursday as global cues remained weak, with the BSE Sensex slipping 23.96 points, or 0.03%, to 77,131.66, and the NSE Nifty 50 easing 11.90 points, or 0.05%, to 24,073.80. Banking and market analyst Ajay Bagga noted that a collapse in geopolitical risk premium, lower oil, and improving trade momentum support equities, while near-term consolidation may occur. He highlighted the India UK Free Trade Agreement taking effect on July 15 as a positive for exports and resilience. The day’s global backdrop included a sharp US market decline and volatile energy prices, with Brent at 78.26 and US crude at 75.27.