Indian equity benchmarks opened nearly flat on Wednesday as investors weighed supportive domestic developments against persistent global headwinds. Information technology stocks led sectoral gains, while losses in consumer durables and healthcare shares limited broader market momentum.
The Nifty 50 opened at 22,715.75, down 6.20 points or 0.03 per cent. The BSE Sensex started the session at 73,049.76, gaining 15.98 points or 0.02 per cent.
Among sectoral indices, the Nifty IT climbed more than 1 per cent, emerging as the top gainer. The Nifty MidSmall IT & Telecom and Nifty FMCG indices advanced by up to 0.38 per cent, while the Nifty Media and Nifty Private Bank indices also traded in positive territory.
In contrast, the Nifty Consumer Durables index fell 0.67 per cent, while healthcare-related indices declined by up to 0.6 per cent.
Market experts attributed Tuesday’s sharp Nifty rally largely to short-covering, which triggered a rebound despite the broader market’s weak trend.
Finance Minister Nirmala Sitharaman’s assurance that the government would carefully review stakeholder feedback on long-term capital gains (LTCG) tax and securities transaction tax (STT) also lifted investor sentiment by raising hopes of potential policy changes.
RBI measures helped the rupee gain nearly 1.5 per cent in two sessions. However, high US bond yields and crude prices kept investors cautious.
Analysts favour financial, telecom, metal and auto stocks, while the Nifty faces resistance at 22,787–22,880, with support at 22,550 and a potential target of 23,200.
Asian stocks rebounded on hopes of softer US rate policies, while oil prices rose amid supply concerns.
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