The Nifty 50 and Sensex opened nearly flat on Wednesday, with gains seen in oil and gas and metal stocks, while FMCG and PSU Bank sectors traded in negative territory.
The Sensex rose by 59 points to around 82,451, while the Nifty gained 18.55 points to reach 25,122 in early trade.
At around 9:25 AM, out of 15 sectoral indices on the National Stock Exchange, 11 were in the green, two declined, and two remained unchanged. Nifty Media led the gains.
Among the top performers on the Nifty were JSW Steel, Cipla, NTPC, and Tech Mahindra. On the other hand, Grasim Industries, Shriram Finance, Asian Paints, L&T, and Titan Company were among the key losers.
Both the BSE Midcap and Smallcap indices were up by 0.3 per cent each.
Analysts noted that the market will likely remain in a consolidation phase, with a slight upward bias.
A decisive move above the 25,100 level on the Nifty would require sustained heavy buying, possibly triggered by positive news related to a US-China trade agreement.
“In the near term, the market will respond to news regarding the trade negotiations. If there is a clear agreement, the market will respond positively and there is a high probability of Nifty breaking above 25100 and remaining above this level,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
He added that while liquidity may support a modest rally, stronger gains would require a clear recovery in corporate earnings — something not yet evident.
Foreign institutional investors (FIIs) continued their buying trend for the third session in a row, with net purchases of ₹2,301 crore on 10 June.
Domestic institutional investors (DIIs) remained positive for the 16th straight session, investing ₹1,113 crore.
This steady institutional activity points to ongoing confidence in Indian markets despite global uncertainties.
On the global front, US stocks moved mostly sideways for much of Tuesday before ending higher.
The S&P 500 climbed 0.6 per cent, now just 1.7 per cent below its record high of 19 February.
Reports also suggest that US Treasury Secretary Scott Bessent may be considered as a successor to current Federal Reserve Chair Jerome Powell.
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