Indian stock markets opened flat on Tuesday, reflecting mixed sentiment despite positive global cues. However, Nifty remains stable
By 9:28 AM, the Sensex gained 48.06 points, or 0.06%, to trade at 78,588.23. Meanwhile, the Nifty added 12.85 points, or 0.05%, to reach 23,766.30.
The market mood remained upbeat, with 1,302 stocks advancing on the National Stock Exchange (NSE). However, 877 stocks traded lower, showcasing a cautious undertone.
Experts warned that Monday’s relief rally might not be sustained. “External factors like a strong dollar and high US bond yields will drive foreign investors to sell during rallies,” they said. Internally, slower growth and weaker earnings could weigh on the bulls in the short term.
The Nifty Bank dropped 80.55 points, or 0.16%, to 51,237.05. The Nifty Midcap 100 slipped 76.80 points, or 0.13%, to 57,016.10. The Nifty Smallcap 100 fell 27.15 points, or 0.15%, to 18,660.65.
Also Read: Adani Defence To Acquire Air Works For ₹400 Crore, Expands MRO Capabilities
On the sectoral front, buying interest emerged in auto, IT, FMCG, and PSU banks. However, financial services, pharma, metal, and energy sectors witnessed selling pressure.
In the Sensex pack, Bharti Airtel, Tata Motors, TCS, Bajaj Finance, and HDFC Bank were among the top gainers. Zomato, Power Grid, Titan, NTPC, and UltraTech Cement led the losers.
Global markets offered mixed signals. The Dow Jones closed 0.16% higher at 42,906.95. The S&P 500 climbed 0.73% to 5,974.07, and Nasdaq rose 0.98% to 19,764.88.
Asian markets also showed divergence. Hong Kong, China, Jakarta, and Bangkok traded in the green, while Seoul and Japan dipped.
On December 23, foreign institutional investors sold equities worth ₹168.71 crore. Meanwhile, domestic institutional investors bought equities worth ₹2,227.68 crore, providing a boost to local markets.