The Indian stock market opened modestly lower on Thursday amid mixed global cues and persistent selling by foreign institutional investors.
At 9:25 AM, Sensex fell 68 points, or 0.08 per cent, to 84,398, while Nifty dipped 15 points, or 0.05 per cent, to 25,860.
The broader market indices mirrored the benchmark trend, with the Nifty Midcap 100 declining 0.13 per cent and the Nifty Smallcap 100 falling 0.27 per cent.
Among Nifty stocks, Tata Steel, Hindalco, and Dr Reddy’s Laboratories emerged as key gainers. On the other hand, Bajaj Finance, Apollo Hospitals, Shriram Finance, and TCS recorded losses.
Most sectoral indices traded in green, with the exception of FMCG, which fell 0.78 per cent, along with IT and private banks. The Nifty Metal index led sectoral gains, rising 1.52 per cent.
Analyst Insights
Analysts noted that a potential India-US trade deal, which could remove penal tariffs and reduce reciprocal tariffs, is a major factor influencing market sentiment.
Additionally, October’s retail inflation easing to 0.25 per cent suggests the possibility of an RBI rate cut in December, although challenges in monetary policy transmission remain.
Immediate resistance for Nifty was placed at 25,950, followed by 26,000, while support was identified at 25,700–25,750 zones.
Most Asia-Pacific markets opened higher following the US House of Representatives’ passing of a short-term funding bill, ending the longest federal shutdown on record.
In the US overnight session, the S&P 500 rose 0.06 per cent and the Dow Jones gained 0.68 per cent, while the Nasdaq declined 0.26 per cent.
In Asia, China’s Shanghai Index gained 0.3 per cent, Shenzhen rose 1.62 per cent, Japan’s Nikkei advanced 0.2 per cent, Hong Kong’s Hang Seng eased 0.45 per cent, and South Korea’s Kospi fell 0.17 per cent.
On Wednesday, foreign institutional investors sold equities worth ₹1,150 crore, whereas domestic institutional investors were net buyers of ₹5,127 crore, indicating continued domestic support amidst FII selling pressure.
Market participants are keeping a close watch on global developments, trade negotiations, and domestic macroeconomic cues to gauge the next directional moves for Indian equities.
Also Read: Adani Ports Sets National Benchmark With TNFD Adoption For Nature-Positive Infrastructure
To read more such news, download Bharat Express news apps
