On Wednesday, March 12, the Indian equity benchmarks Sensex and Nifty opened with little change, as global market cues provided mixed signals.
Despite a flat opening, investors drove buying activity primarily in the auto and PSU Bank sectors, with Bharti Airtel emerging as the top gainer in early trade.
By 9:28 AM, the Sensex had gained 22.30 points or 0.03% to reach 74,080.02. The Nifty rose by 24.65 points or 0.11%, trading at 22,473.25.
The Nifty Bank index was up by 231.40 points or 0.48% at 47,867.05, reflecting positive sentiment in the banking sector.
The Nifty Midcap 100 index climbed 141.65 points or 0.29%, and the Nifty Smallcap 100 index added 52.85 points or 0.35%.
Sectoral Performance: Auto & PSU Banks Lead The Pack
In terms of sectoral indices, auto and PSU banks emerged as the top performers early on, buoyed by positive sentiment in these sectors.
Meanwhile, large-cap stocks like Bharti Airtel, Tata Motors, and HDFC Bank stood out as top gainers.
However, stocks like IndusInd Bank, Infosys, and HCLTech saw declines, dragging the broader market down slightly.
Market analysts believe that Nifty could find support at 22,400, followed by 22,300 and 22,200. On the higher side, 22,600 and 22,700 are seen as immediate resistance levels.
According to Hardik Matalia of Choice Broking, the current market environment is volatile, and traders should exercise caution.
Matalia advised implementing strict stop-loss strategies and avoiding holding overnight positions.
Global Market Trends & Concerns
Globally, stock markets remain weak, driven by concerns about tariff policies and geopolitical tensions.
These uncertainties are expected to continue impacting market sentiment.
Investors should be cautious, as the possibility of further downtrends in global markets looms large.
The previous session saw the Dow Jones fall by 1.14% to 41,433.48, while the S&P 500 and Nasdaq both experienced declines as well.
Foreign institutional investors (FIIs) continued their selling spree on March 11, offloading equities worth ₹2,823.76 crore.
In contrast, domestic institutional investors (DIIs) bought equities worth ₹2,001.79 crore, helping balance out the market dynamics.
In the Asian markets, Japan, Seoul, and Jakarta were trading in the green, showing positive sentiment.
However, markets in China, Hong Kong, and Bangkok were in the red, reflecting the mixed global cues.
As the Indian stock market opens flat amid global uncertainties, investors need to stay cautious and monitor sectoral movements closely.
Bharti Airtel’s strong performance is a highlight, but the overall market sentiment remains volatile. As always, traders should focus on key support and resistance levels while managing risk carefully.
Also Read: Indian Stock Markets Recover From Early Losses Amid Volatility
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