Indian Stock Market Opens Flat Amid Stable Institutional Investments
The Indian stock market opened flat on Friday, reflecting cautious investor sentiment and mixed global cues. Benchmark indices hovered near the previous close, as IT and auto sector stocks saw early selling pressure.
Mumbai: The Indian stock market opened flat on Friday, reflecting cautious investor sentiment and mixed global cues. Benchmark indices hovered near the previous close, as IT and auto sector stocks saw early selling pressure.
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Sensex and Nifty Remain Steady
As of 9:29 AM, the BSE Sensex rose marginally by 11.77 points or 0.01% to trade at 81,644.79, while the NSE Nifty 50 added 13.20 points or 0.05% to reach 24,846.80.
Despite subdued sectoral performance, stable institutional flows from both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have helped maintain market stability.
Sector-Wise Performance: IT and Auto Drag, Pharma and Ports Shine
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Early trade saw weakness in key sectors such as IT and auto, dragging market sentiment. Notable losers from the Sensex pack included Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan, and Hindustan Unilever.
On the upside, Adani Ports, Eternal, Maruti Suzuki, and Sun Pharma emerged as top gainers, offering some support to the broader market.
Broader Market Sees Mild Gains
The Nifty Bank index climbed 81.20 points or 0.15% to trade at 55,627.25. Mid and small-cap stocks outperformed:
- Nifty Midcap 100: Up 250.40 points or 0.44% at 57,707.65
- Nifty Smallcap 100: Gained 37.75 points or 0.21% at 17,927.15
Technical View: Nifty in Consolidation Phase
Analysts highlight that Nifty continues to trade within a sideways range between 24,462 and 25,116. Thursday’s late recovery, marked by a long lower shadow and a narrow body near the day’s high, signals bullish intent.
“Immediate support and resistance lie at 24,677 and 25,000, respectively,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Asian Markets Trade Lower, U.S. Closes Higher
In global markets, Asia traded lower with Hong Kong, Bangkok, Seoul, China, and Japan all in the red. However, the U.S. markets ended higher in the previous session:
- Dow Jones: +117.03 points (+0.28%) at 42,215.73
- S&P 500: +23.62 points (+0.40%) at 5,912.17
- Nasdaq: +74.93 points (+0.39%) at 19,175.87
Institutional Investments Remain Supportive
FIIs were net buyers, investing ₹884.03 crore on May 29, while DIIs contributed significantly with purchases worth ₹4,286.50 crore. These stable inflows are supporting the market in the absence of fresh triggers.
Macros Strong, Earnings Lagging
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
“India’s macroeconomic fundamentals — including GDP growth, falling inflation, and improving fiscal metrics — are solid. However, this strength is yet to reflect in corporate earnings, which is keeping the market range-bound.”
