Indian Stock Market Opens Flat; Bharti Airtel Emerges as Top Gainer
The Indian stock market opened flat on Wednesday, amid mixed global cues. Early trade saw buying interest in the auto and PSU Bank sectors, but the broader market showed little movement.
Mumbai: The Indian stock market opened flat on Wednesday, amid mixed global cues. Early trade saw buying interest in the auto and PSU Bank sectors, but the broader market showed little movement. The benchmark equity indices started the day with minor gains, as investors remained cautious in light of global economic concerns.
Table of Contents
Indian Equity Benchmark Indices Open Flat
As of 9:28 am, the BSE Sensex was up by 22.30 points or 0.03%, trading at 74,080.02. Meanwhile, the NSE Nifty added 24.65 points or 0.11%, reaching 22,473.25. The Nifty Bank index rose by 231.40 points or 0.48%, reaching 47,867.05. The Nifty Midcap 100 index climbed 141.65 points or 0.29%, trading at 48,904.40, while the Nifty Smallcap 100 index gained 52.85 points or 0.35%, reaching 15,128.75.
Key Sectors and Stock Movements
In early trade, stocks from the auto and PSU Bank sectors witnessed positive momentum, with Bharti Airtel leading the gainers list on the Sensex. Other top gainers included Tata Motors, HDFC Bank, Zomato, PowerGrid, Sun Pharma, and Kotak Mahindra Bank. On the flip side, IndusInd Bank, Infosys, HCLTech, and TCS were among the top losers.
Technical Outlook for Nifty
Market experts have identified key levels for the Nifty index. The immediate support is seen at 22,400, followed by 22,300 and 22,200. On the upside, 22,600 is viewed as the first resistance, with subsequent resistance levels at 22,700 and 22,800.
“Given the ongoing volatility, traders are advised to exercise caution and implement strict stop-loss strategies to protect their positions. Avoid carrying overnight positions,” said Hardik Matalia of Choice Broking.
Global Market Concerns Impacting Sentiment
The ongoing volatility in global markets, driven by concerns over tariff policy uncertainties, is likely to weigh on investor sentiment. Analysts suggest that these issues may worsen as reciprocal tariffs are set to take effect in early April, leaving little room for sustained recovery in global markets. Further declines in global equity markets are anticipated.
Also Read: Telangana Budget 2025 Session Debate Likely Over 42% BC Quota, SC Categorization Bills
Global and Regional Market Performance
In global markets, the Dow Jones dropped by 1.14% to close at 41,433.48, the S&P 500 declined by 0.76% to 5,572.07, and the Nasdaq fell by 0.18%, closing at 17,436.10.
In Asia, Japan, Seoul, and Jakarta were in the green, while Bangkok, China, and Hong Kong traded in the red.
FII and DII Activity
Foreign Institutional Investors (FIIs) continued to offload equities on March 11, selling shares worth ₹2,823.76 crore. On the other hand, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth ₹2,001.79 crore on the same day.
