Indian equity markets continued to trade in a volatile range on Thursday, September 10, with the Nifty 50 moving close to the 23,450 level and the Sensex remaining largely flat. Investors stayed cautious as geopolitical tensions and elevated crude oil prices continued to influence market sentiment.

The Nifty had opened at 23,446.30, gaining 14.80 points or 0.06%, while the Sensex opened 61.86 points higher at 74,826.09. The gains were subsequently pared as the session progressed.

Dilip Buildcon Surges Up to 7%

Dilip Buildcon (DBL) emerged as one of the stocks in focus, gaining as much as 7% during the session.

The sharp move came after the company announced that it had received a Letter of Intent for a major LPG pipeline project. According to market reports, the project involves laying, building, operating or expanding a petroleum and petroleum-product pipeline from Paradip in Odisha to Raipur in Chhattisgarh.

The project has an estimated value of around ₹1,800 crore, with an execution period of three years and an operation period of 25 years. The order strengthened investor interest in the infrastructure and construction company.

Crude Oil Remains a Major Concern

The broader market continued to face pressure from the sharp rise in international crude oil prices. Brent crude remained above $100 per barrel, driven by escalating tensions in the Middle East.

Higher oil prices are particularly significant for India because of its dependence on imported crude. A prolonged increase could put pressure on inflation, the rupee and corporate margins.

Nifty Struggles After Previous Session's Sell-Off

The cautious trading follows a sharp decline on Wednesday. The Sensex fell 813.35 points to 74,764.23, while the Nifty 50 dropped 203.60 points to 23,431.50. Both indices closed at their lowest levels in several weeks amid intense selling pressure.

Investors are now watching whether the Nifty can sustain levels around 23,400–23,450 or face another round of selling.

Stocks in Focus

Apart from Dilip Buildcon, investors are tracking oil-related companies, infrastructure stocks and other companies with significant corporate announcements. ONGC and Oil India have benefited from higher crude prices, while some infrastructure and renewable-energy stocks have also attracted buying interest.

With crude oil prices elevated and global markets remaining uncertain, volatility is expected to remain high. Traders will closely monitor geopolitical developments, crude prices and global economic data for further direction.