Indian stock markets opened on a cautious note on Thursday, with benchmark indices showing little movement due to mixed global signals.
Early trading saw pressure in the IT and FMCG sectors, weighing on market sentiment.
As of 9:33 AM, the Sensex slipped 58.07 points or 0.08% to 73,672.16, while the Nifty fell 12.65 points or 0.06% to 22,324.65.
Among sectoral indices, Nifty Bank advanced 205.85 points or 0.42%, reaching 48,695.80.
The Nifty Midcap 100 climbed 481.35 points or 0.98% to 49,649.70, while the Nifty Smallcap 100 gained 128.30 points or 0.92%, standing at 15,429.35.
Market Outlook
Analysts suggest that Nifty may find support at 22,200, with further levels at 22,100 and 22,000.
On the upside, 22,450 could act as immediate resistance, followed by 22,550 and 22,700.
Meanwhile, the RBI plans to conduct two open market operations worth Rs 50,000 crore each on 12 March and 18 March, along with a $10 billion USD/INR Buy/Sell Swap auction on 24 March for a 36-month tenor, aiming to boost liquidity.
Devarsh Vakil, Head of Prime Research at HDFC Securities, highlighted, “The Nifty closed above its 5-day exponential moving average (EMA) for the first time since 6 February 2025, potentially signalling a reversal from a bearish to a bullish trend in the short term.”
Top Gainers & Losers
Among the top performers in the Sensex pack were Tata Motors, Asian Paints, Zomato, Tata Steel, IndusInd Bank, Hindustan Unilever, ICICI Bank, Axis Bank, HCL Tech, TCS, and Bajaj Finserv.
Conversely, Kotak Mahindra Bank, PowerGrid, Infosys, and UltraTech Cement were the biggest laggards.
Global & Institutional Trends
In the previous session, Wall Street ended on a positive note:
- Dow Jones rose 1.14% to 43,006.59
- S&P 500 gained 1.12% to 5,842.63
- Nasdaq climbed 1.46% to 18,552.73
Across Asian markets, all major indices except Bangkok were trading in the green, with China, Japan, Seoul, Jakarta, and Hong Kong showing gains.
On the institutional front, Foreign Institutional Investors (FIIs) continued their selling spree for the tenth consecutive session on 5 March, offloading Rs 2,895.04 crore worth of equities.
In contrast, Domestic Institutional Investors (DIIs) extended their buying streak for the 20th straight day, purchasing Rs 3,370.60 crore worth of stocks.
Also Read: India Poised To Become Global AI Hub, Says Nadir Godrej
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