Indian equity markets opened on a jittery note on Thursday, with both the Sensex and Nifty swinging between gains and losses following the US Federal Reserve’s decision to cut interest rates by 25 basis points on Wednesday.
The Sensex initially rose but quickly slipped into negative territory, trading at 84,312 during early trade, down 79 points or 0.09 per cent. Similarly, the Nifty erased early gains and touched 25,750, lower by 8 points or 0.03 per cent.
Analysts noted that the Nifty holds immediate support between 25,600–25,650, while the 25,850–25,900 zone continues to act as strong resistance.
“A decisive breakout above this band is essential to revive bullish momentum, whereas a sustained dip below support may prolong the consolidation phase,” they added.
Early movers on the Sensex included Infosys, Eternal, Tata Steel, Maruti Suzuki, Adani Ports, HCL Tech, SBI, TCS, L&T, and Tech Mahindra, posting gains of up to 1.1 per cent.
However, Titan, Power Grid, Bharti Airtel, NTPC, Asian Paints, ITC, Reliance Industries, Bajaj Finserv, and ICICI Bank weighed on the index with mild losses.
In the broader market, the Nifty MidCap index fell 0.17 per cent, while the Nifty SmallCap index declined 0.32 per cent. IT stocks led sectoral gains, with the Nifty IT index up 0.70 per cent, followed by the Nifty PSU Bank index (0.65 per cent), Nifty Metal index (0.4 per cent), and Nifty Auto index (0.12 per cent). Conversely, FMCG shares came under pressure, dragging the Nifty FMCG index down by 0.26 per cent.
Global Cues and Investment Flows
Analysts said domestic markets moved cautiously in response to global cues, with investors assessing the Fed’s rate cut and its potential impact on capital flows and economic growth.
Foreign Institutional Investors (FIIs) sold equities worth Rs 1,651 crore on December 10, while Domestic Institutional Investors (DIIs) recorded net purchases exceeding Rs 3,752 crore, highlighting continued domestic support despite global volatility.
The markets are expected to remain sensitive to global developments in the coming sessions as investors weigh monetary policy impacts against domestic economic trends.
Also Read: Adani Electricity Clinches All 15 Gold Awards At QCFI’s Annual Quality Convention
To read more such news, download Bharat Express news apps
