Indian equity markets began Wednesday’s session on a flat-to-negative note as mixed global cues and a lack of fresh domestic triggers kept traders cautious.
With the Q2 FY26 earnings season drawing to a close, enthusiasm among participants remained subdued, leaving the indices confined to a narrow band of movement.
The Sensex slipped 81 points, or 0.10 per cent, to 84,592 in early trade, while the Nifty fell 34 points, or 0.13 per cent, to 25,877.
Market experts observed that the benchmark Nifty 50 has remained range-bound since the previous session.
They noted that resistance persists around the 26,000–26,050 zone, while near-term support lies between 25,800 and 25,750 — a region analysts consider a potential accumulation level for positional traders.
Given the current setup, analysts advised a selective buy-on-dips strategy, emphasising the need for tight trailing stop-losses and timely profit booking during short-lived rallies.
Key Market Movers
Several heavyweights dragged the indices lower in early trade. The major laggards on the Sensex included Tata Motors PV, NTPC, Bajaj Finserv, Eternal, and Sun Pharma, contributing to the subdued market tone.
However, these losses were partially offset by gains in HUL, Infosys, TCS, Tata Steel, Tech Mahindra, and Trent, which provided some stability and prevented a deeper decline.
The broader market also displayed weakness, mirroring the cautious undertone.
The Nifty MidCap index slipped 0.06 per cent, while the Nifty SmallCap index declined 0.23 per cent, reflecting reduced risk appetite among investors.
Sector-wise trends remained mixed. The Nifty IT index emerged as the only notable performer, rising 0.62 per cent as selective buying supported technology counters.
Conversely, the Nifty Realty index registered the steepest fall among sectoral indices, declining 0.5 per cent due to sustained pressure on real estate stocks.
Market Outlook
Analysts suggested that the markets may continue to drift in a narrow range in the absence of meaningful domestic triggers.
Additionally, investors are expected to exercise caution ahead of key global macroeconomic developments scheduled for later this week, which could influence overall sentiment.
Market experts also stressed the importance of prioritising safer bets in the current environment.
They noted that large-cap stocks offer relative safety, particularly as several segments in the mid-cap and small-cap categories appear overvalued, propelled primarily by liquidity-driven optimism rather than fundamental strength.
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