Sensex, Nifty Trade Flat In Early Session; Broader Markets Show Mild Strength

Indian equity markets began Thursday’s session on a muted but slightly positive note, mirroring upbeat global market sentiment.

At the opening bell, the BSE Sensex inched up by 17 points, or 0.02 per cent, to 81,791, while the NSE Nifty 50 also added 17 points, or 0.07 per cent, to trade at 25,063.

Market analysts noted, “From a technical standpoint for Nifty, a sustained move above 25,150 could open the door for an upside toward 25,200–25,250.”

“On the downside, immediate support lies around 24,950–24,900, which may serve as potential accumulation zones for long positions,” they further added.

Experts further suggested that the benchmark index is likely to remain range-bound between 24,900 and 25,200 in the short term.

The broader market showed mild strength as well, with the:

• Nifty MidCap index rising 0.3 per cent, and
• Nifty SmallCap index advancing 0.21 per cent

On the institutional front, Foreign Institutional Investors (FIIs) continued their buying momentum for the second straight session on 8 October. They purchased shares worth ₹81 crore during the day.

Domestic Institutional Investors (DIIs) also remained net buyers, investing a total of Rs 329 crore on the same day.

Across Asia, markets traded higher, buoyed by record closing levels of the S&P 500 and Nasdaq Composite on Wall Street overnight.

Investor confidence received an additional boost following US President Donald Trump’s announcement. He said that Israel and Hamas had reached the first phase of a US-brokered peace deal. The agreement pauses hostilities in Gaza and allows the release of hostages and prisoners.

Market participants, however, maintained a cautiously optimistic stance, closely monitoring global developments and geopolitical cues.

“The results season starting today will be keenly watched by the market. IT stocks have witnessed some recovery from the bottom, but the headwinds for the segment continue to be strong,” analysts observed.

They added, “Banking stocks have largely remained range-bound on muted earnings expectations. The NIM pressure and rising delinquencies in the unsecured loan segments will weigh on banking results generally. So, watch out for the outperformers in the segment.”

Also Read: Elon Musk Announces Grokipedia Beta Launch As Rival To Wikipedia