The Sensex and Nifty traded cautiously in early deals on Wednesday, reflecting investor caution amid mixed trends in banking stocks and subdued global cues.
The BSE Sensex opened 176 points higher at 84,856 but soon surrendered gains, touching a low of 84,649.
By 9:25 AM, the index was trading 134 points up at 84,820, a 0.2 per cent rise. The Nifty 50 mirrored the movement, rising 53 points to 25,913, also up 0.2 per cent.
Analysts noted that immediate support for the Nifty lies at 25,700, and a breakdown below this level could trigger consolidation toward 25,600–25,550.
On the upside, resistance remains at 26,000–26,050, representing a key hurdle for further gains.
Shares in the banking and financial sectors displayed a mixed pattern. SBI, Bajaj Finance, Eternal, and Axis Bank emerged as top gainers, each climbing around 1 per cent. In contrast, ICICI Bank and HDFC Bank weighed on the market, limiting upside momentum.
Broader market indices remained subdued. The BSE MidCap index edged up 0.1 per cent, while the SmallCap index slipped 0.1 per cent. The Indian rupee opened at 91.07 against the US dollar, reflecting moderate stability.
Asian markets recorded mild gains, recovering from recent losses.
Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai Composite advanced by 0.2–0.4 per cent. South Korea’s KOSPI and Taiwan’s benchmark index gained around 0.7 per cent each.
Overnight, Wall Street ended on a mixed note.
The S&P 500 fell 0.24 per cent, marking a third consecutive session of losses amid delays in the November jobs report. Meanwhile, the Nasdaq Composite rose 0.23 per cent, and the Dow Jones Industrial Average declined 0.62 per cent.
Foreign institutional investors (FIIs) remained net sellers, offloading shares worth Rs 2,060.76 crore on Tuesday. Domestic institutional investors (DIIs) partially offset the impact by purchasing shares valued at Rs 770.76 crore, providing some support to the market.
Overall, investors remained cautious, balancing domestic corporate performance with global market sentiment, as the indices continued to trade in a narrow range.
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