Business

Indian Markets Open Flat Amid Negative Asian Cues And Sectoral Selling

The domestic benchmark indices opened flat on Friday, reflecting negative cues from Asian markets.

Early trading saw selling pressure in the IT and automobile sectors, yet steady institutional buying helped maintain market stability.

Market Performance And Sector Movements

At 9:29 AM, the Sensex traded slightly higher by 11.77 points or 0.01% at 81,644.79, while the Nifty gained 13.20 points or 0.05% to reach 24,846.80.

The Nifty Bank index rose 81.20 points or 0.15% to 55,627.25. Meanwhile, the Nifty Midcap 100 advanced by 250.40 points (0.44%) to 57,707.65, and the Nifty Smallcap 100 climbed 37.75 points (0.21%) to 17,927.15.

Analysts noted a strong recovery in the Nifty during the final minutes of Thursday’s trading, after spending much of the session in negative territory.

Also Read: Adani Group Named Title Sponsor As Gwalior Gears Up For MPL 2025

Akshay Chinchalkar, Head of Research at Axis Securities, explained, “Although the Nifty remains trapped in a sideways range between 24,462 and 25,116, yesterday’s rebound showed a long lower shadow and a small real body near the day’s high, which is a bullish signal. Immediate support and resistance lie at 24,677 and 25,000, respectively.”

Within the Sensex, shares of Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan, and Hindustan Unilever Limited declined.

In contrast, Adani Ports, Eicher Motors, Maruti Suzuki, and Sun Pharma recorded gains.

Global Market Trends Influence Domestic Sentiment

Asian markets, including Hong Kong, Bangkok, Seoul, China, and Japan, traded lower on Friday amid broad risk-off sentiment.

Meanwhile, US markets closed higher on Thursday with the Dow Jones up 117.03 points (0.28%) to 42,215.73, the S&P 500 rising 23.62 points (0.40%) to 5,912.17, and the Nasdaq gaining 74.93 points (0.39%) to 19,175.87.

Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, highlighted two key trends impacting the market.

“India’s macroeconomic fundamentals remain strong and are improving. However, this positive momentum is yet to be reflected in corporate earnings,” he said, explaining that this disconnect underpins the current range-bound movement.

Institutional Investors Continue Buying

On the institutional front, foreign institutional investors (FIIs) bought equities worth ₹884.03 crore on 29 May, while domestic institutional investors (DIIs) purchased shares worth ₹4,286.50 crore, supporting market stability.

Market experts suggest that steadily improving macroeconomic indicators, including resilient GDP growth, declining inflation and interest rates, and narrowing fiscal and current account deficits, provide a solid foundation for medium-term economic strength and earnings recovery.

Richa Kaushik

Recent Posts

Markets Open Higher On Global Boost; Midcaps, Smallcaps Shine On Strong Domestic Support

Indian equity benchmarks kicked off Wednesday’s session on a positive note, tracking gains from global…

9 mins ago

Elon Musk Slams Trump-Backed Spending Bill; Warns Of Soaring Deficit

Elon Musk, former head of the US DOGE, has distanced himself from President Trump’s support…

30 mins ago

Tahawwur Rana To Appear Before NIA Court In 26/11 Terror Case

Tahawwur Rana, 26/11 accused, to appear before Delhi NIA court today after April extradition from…

58 mins ago

CJI BR Gavai Highlights Judicial Integrity At UK Supreme Court Roundtable

Chief Justice of India BR Gavai urges transparency and swift action to uphold public trust…

2 hours ago

Historic Win For RCB; Beats PBKS In Tight IPL 2025 Final Match

In a thrilling IPL 2025 final match at the Narendra Modi Stadium in Ahmedabad, RCB…

8 hours ago

PM Modi Hails Andhra Pradesh’s #Yogandhra2025 Campaign; To Lead Yoga Day Celebrations In State

PM Modi has praised Andhra Pradesh’s large-scale preparations for International Yoga Day 2025, applauding its…

11 hours ago