Markets Open Flat As Global Uncertainty And Trade Deal Delay Weigh On Sentiment

The Indian stock market remained largely flat on Tuesday after a weak start, as mixed global signals and uncertainty around an India-US trade agreement kept investor sentiment cautious.

By 9:29 AM, the Sensex edged up just 1.69 points to trade at 80,892, while the Nifty rose 16 points or 0.06% to reach 24,696.

The indices had opened lower, with Nifty briefly touching 24,600 in early trade.

According to Hardik Matalia of Choice Equity Broking, “After a negative opening, Nifty can find support at 24,600, followed by 24,500 and 24,300. On the higher side, 24,800 can be an immediate resistance, followed by 24,900 and 25,000.”

“A sustained move above 25,000 is crucial for any meaningful pause in the ongoing selling pressure. As long as the index trades below the 25,000 mark, the short-term outlook remains weak, and a ‘sell-on-rise’ strategy is advisable,” he further added.

Among sectoral indices, Nifty Realty outperformed, while Nifty IT slipped by 0.32%.

Nifty Bank was nearly unchanged, ending the early session just 0.01% lower.

Top gainers in the Nifty pack included JSW Steel, Jio Financial, IndusInd Bank, Reliance Industries, and Shriram Finance.

Meanwhile, Eternal led the losers with a 1.64% fall. It was followed by declines in Infosys, SBI Life Insurance, Wipro, and Bharat Electronics.

Analysts pointed to the delayed India-US trade agreement as a significant factor dampening market mood.

Hopes of a deal before the 1 August deadline are fading, adding to investor uncertainty.

In the US, the Dow Jones slipped 0.14%, the Nasdaq rose by 0.33%, and the S&P 500 ended flat with a minor 0.02% gain.

Across Asia, market sentiment remained muted. Japan’s Nikkei 225 dropped 0.91%, and Hong Kong’s Hang Seng Index declined 0.93%, while South Korea’s Kospi gained 0.59%. Chinese markets hovered near flat in early trade.

Foreign Institutional Investors (FIIs) remained net sellers for the sixth consecutive session, offloading equities worth ₹6,082 crore on Monday. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹6,764 crore, helping to support the broader market.

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