India's stock market was mixed in the first hour of trading as upbeat earnings from private banks struggled to offset geopolitical anxieties that pushed crude oil prices toward the $100 mark.
The benchmark NSE Nifty 50 Index fluctuated within 1% of its previous close, while the S&P BSE Sensex hovered near the flatline.
The financial sector provided a critical floor for the market, with ICICI Bank Ltd. jumping 1% after posting strong profits.
However, energy jitters remain, with Brent crude surging to $97 a barrel due to reports of slowed shipping traffic through the Persian Gulf.
The nervousness was evident in the broader market breadth, with 13 of the 16 major sectoral sub-indices in the red.
The focus for the remainder of the week will stay on fourth-quarter earnings season, with the looming shadow of energy-led inflation remaining a key factor for the Reserve Bank of India's next moves.
