Indian Stock Market Opens Flat, Sensex Above 73,600

Mumbai: The Indian benchmark indices opened almost flat on Thursday amid mixed global cues, with selling observed in the IT and FMCG sectors in early trade.

At around 9:33 am, the Sensex was trading 58.07 points or 0.08% down at 73,672.16, while the Nifty declined by 12.65 points or 0.06% at 22,324.65.

Nifty Bank and Midcap Indices Perform Better

Nifty Bank was up by 205.85 points or 0.42% at 48,695.80. The Nifty Midcap 100 index was trading at 49,649.70 after gaining 481.35 points or 0.98%. The Nifty Smallcap 100 index stood at 15,429.35 after rising 128.30 points or 0.92%.

Market Outlook

According to market watchers, after a positive opening, Nifty may find support at 22,200, followed by 22,100 and 22,000. On the higher side, 22,450 can serve as immediate resistance, followed by 22,550 and 22,700.

RBI’s Market Liquidity Measures

The Reserve Bank of India (RBI) will conduct two open market operations (OMOs) for purchases worth Rs 50,000 crore each on March 12 and March 18. Additionally, a USD/INR Buy/Sell Swap auction of 10 billion dollars for a 36-month tenor is scheduled for March 24. These actions are expected to inject more liquidity into the system.

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Potential Market Trend Reversal

“The Nifty closed above its 5-day exponential moving average (EMA) for the first time since February 6, 2025, potentially signaling a reversal from a bearish to a bullish trend in the short term,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

Sector Performances

In the Sensex pack, Tata Motors, Asian Paints, Zomato, Tata Steel, IndusInd Bank, Hindustan Unilever, ICICI Bank, Axis Bank, HCL Tech, TCS, and Bajaj Finserv were the top gainers. On the other hand, Kotak Mahindra Bank, PowerGrid, Infosys, and UltraTech Cement were the top losers.

Global Market Performance

In the last trading session, the Dow Jones gained 1.14% to close at 43,006.59. The S&P 500 added 1.12% to 5,842.63, and the Nasdaq rose by 1.46%, closing at 18,552.73.

In Asian markets, only Bangkok was trading in the red, while China, Japan, Seoul, Jakarta, and Hong Kong were trading in the green.

FIIs and DIIs Activity

Foreign institutional investors (FIIs) continued their selling streak for the tenth consecutive day on March 5, offloading equities worth Rs 2,895.04 crore. However, domestic institutional investors (DIIs) extended their buying spree for the 20th consecutive day, purchasing equities worth Rs 3,370.60 crore on the same day.