Indian Stock Market Opens Flat Amid Mixed Global Cues
The Indian stock market opened marginally lower on Wednesday, reflecting mixed global cues and early selling pressure in FMCG and auto sectors.
Mumbai: The Indian stock market opened marginally lower on Wednesday, reflecting mixed global cues and early selling pressure in FMCG and auto sectors.
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As of 9:26 AM, the BSE Sensex was trading at 81,459.02, down 92.61 points or 0.11%, while the NSE Nifty declined by 16.75 points or 0.07%, reaching 24,809.45.
Nifty Bank, Midcap, and Smallcap Indices Trade Higher
Despite the lukewarm performance of the broader indices, Nifty Bank gained 78.15 points or 0.14%, trading at 55,430.95. The Nifty Midcap 100 rose by 171.55 points (0.30%) to reach 57,326.05, while the Nifty Smallcap 100 climbed 114.25 points (0.64%) to 17,839.40.
Technical Outlook: Key Levels to Watch
Market analysts noted that the Nifty closed lower in a volatile session on Tuesday. According to Akshay Chinchalkar, Head of Research at Axis Securities, the 24,462 level is a crucial support.
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“If it holds, Nifty may rally toward the 25,116 and then 25,390 resistance levels. However, a break below 24,462 would activate a ‘rising wedge’ pattern, signaling a potential downside toward the 23,900–24,000 range,” Chinchalkar added.
Top Gainers and Losers on Sensex
Top Losers:
- ITC
- Titan
- Nestle India
- Hindustan Unilever
- M&M
- Sun Pharma
Top Gainers:
- Infosys
- Tata Motors
- Bharti Airtel
- HCL Tech
- Bajaj Finance
- NTPC
Global Market Sentiment Mostly Positive
Asian markets traded largely in the green, with Bangkok, Seoul, China, Jakarta, and Japan showing gains. Hong Kong, however, was the lone major market trading in the red.
In the U.S., stock indices ended significantly higher in the last session:
- Dow Jones: 42,343.65 (+740.58 pts / +1.78%)
- S&P 500: 5,921.54 (+118.72 pts / +2.05%)
- Nasdaq: 19,199.16 (+461.96 pts / +2.47%)
FIIs and DIIs Show Continued Confidence
Despite the mild decline in Indian equities, Foreign Institutional Investors (FIIs) remained net buyers, investing ₹348.45 crore on May 27. Meanwhile, Domestic Institutional Investors (DIIs) showed strong support with net purchases of ₹10,104.66 crore, reflecting solid institutional confidence in India’s growth story.
