Indian Stock Market Update: Nifty Holds Above 23,700 Amid Mixed Sectoral Trends
"Stay updated on the Indian stock market as Nifty holds above 23,700. Explore sectoral trends, top gainers and losers, and expert insights on market performance and global cues."
Mumbai: The Indian stock market opened flat on Thursday, with the Nifty maintaining levels above 23,700 despite selling pressure in several sectors, including PSU banks, pharma, FMCG, realty, media, energy, and metals.
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Market Performance at Open
At 9:31 am, the Sensex was trading at 78,573.16, up by 65.75 points or 0.08%. The Nifty 50 index rose 23.15 points or 0.10%, reaching 23,766.05. Despite the flat opening, the overall market trend remained positive, with 1,366 stocks trading in green and 529 in red on the National Stock Exchange (NSE).
Key Indices and Sectoral Analysis
- Nifty Bank gained 21 points (0.04%) to trade at 51,081.60.
- Nifty Midcap 100 rose 20.45 points (0.04%) to 57,471.35.
- Nifty Smallcap 100 increased slightly by 2.15 points (0.01%) to 18,961.95.
On the sectoral front, buying activity was observed in Auto, IT, financial services, and private banks, while PSU banks, pharma, FMCG, and realty sectors faced selling pressure.
Top Gainers and Losers
In the Sensex pack, notable gainers included:
- Bajaj Finance
- Kotak Mahindra Bank
- Tata Motors
- Bajaj Finserv
- UltraTech Cement
- Maruti Suzuki
- M&M
- Infosys
- Zomato
- IndusInd Bank
- ICICI Bank
Top losers were:
- NTPC
- HDFC Bank
- Asian Paints
- Bharti Airtel
- ITC
- Tech Mahindra
Global Market Trends
- The Dow Jones Industrial Average fell 0.07%, closing at 42,544.22.
- The S&P 500 declined by 0.43% to 5,881.60.
- The Nasdaq Composite dropped 0.90%, ending at 19,310.79.
In Asia, the Jakarta Stock Exchange traded in green, while Hong Kong, China, Bangkok, and Seoul markets recorded losses.
Also Read | Indian Share Market Opens Flat in 2025 Amid Sectoral Weakness
Expert Insights
Market experts remain cautious, citing lackluster Q3 corporate earnings that may not show significant recovery. Investors are advised to focus on sectors resilient to the economic slowdown.
Foreign Institutional Investors (FIIs) continued their selling trend due to the strong US dollar and attractive US bond yields. On January 1, FIIs sold equities worth Rs 1,782.71 crore. However, Domestic Institutional Investors (DIIs) countered this with equity purchases worth Rs 1,690.37 crore.
Challenges and Opportunities
Experts note that while DII buying can support markets at lower levels, it may not be sufficient to drive substantial growth. “For markets to climb higher, clear signals of economic growth and earnings recovery are essential,” they said.
