Trading opened flat on Tuesday, with Indian markets showing little movement as investors awaited stronger domestic signals while global trends remained mixed.
At 9:25 AM, the Sensex was slightly lower by 18 points, or 0.02 per cent, at 83,718, while the Nifty 50 slipped 14 points, or 0.05 per cent, to 25,748.
The broader market moved largely in tandem with the frontline indices.
The Nifty Midcap 100 edged down 0.08 per cent, and the Nifty Smallcap 100 fell 0.12 per cent.
Among the major gainers in the Nifty pack were Titan Company, Cipla, and Trent. Tata Consumer, Maruti Suzuki, Apollo Hospitals, and Hindalco were among the key laggards.
In the sectoral landscape, most indices traded in negative territory except Nifty Media, Oil and Gas, Consumer Durables, and Realty.
The Nifty Auto index saw the steepest fall, down 0.48 per cent, while FMCG and IT slipped 0.22 per cent and 0.21 per cent, respectively.
Market experts said foreign institutional investors (FIIs) will likely continue selling during market rallies. They further added that FIIs are to reallocate funds to other emerging markets.
They said renewed selling by FIIs has limited upward momentum in domestic equities, though this is expected to remain a temporary hurdle.
Analysts remain optimistic about the medium-term outlook, citing India’s strong GDP growth and consistent demand, particularly in the automobile sector.
Overseas, officials from the US Federal Reserve continued to express differing views on the economy on Monday.
The debate is expected to intensify in the run-up to the Federal Reserve’s December policy meeting. Key data releases remain suspended due to the ongoing US government shutdown.
In the United States, equity indices ended on a mixed note overnight.
The Nasdaq gained 0.46 per cent, the S&P 500 rose 0.17 per cent, while the Dow Jones Industrial Average declined 0.48 per cent.
Across Asia, most markets were trading lower in morning deals.
The Shanghai Composite dipped 0.21 per cent, the Shenzhen Component dropped 1.29 per cent, and Japan’s Nikkei slipped 0.1 per cent.
However, Hong Kong’s Hang Seng gained 0.28 per cent, while South Korea’s Kospi declined 1.59 per cent.
Provisional data showed that FIIs sold shares worth Rs 1,883 crore on Monday.
Meanwhile, domestic institutional investors (DIIs) remained net buyers for the seventh consecutive session, purchasing equities worth Rs 3,516 crore.
Technical analysts see immediate resistance for the Nifty at 25,850, with further barriers at 25,900 and 26,000. On the downside, support levels are likely near 25,600 and 25,650.
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