Mumbai: Indian equity benchmarks Sensex and Nifty opened on a flat note on Tuesday morning, tracking mixed global signals and cautious investor sentiment amid geo-political tensions. As of 9:18 AM, the BSE Sensex was down 11 points at 80,785, while the NSE Nifty 50 declined by 8 points to 24,452.
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Midcap and Smallcap Stocks Witness Selling Pressure
Selling was evident in the broader markets, with both midcap and smallcap indices facing pressure:
- Nifty Midcap 100 fell by 126 points (0.23%) to 54,548
- Nifty Smallcap 100 slipped by 61 points (0.37%) to 16,547
Experts indicated that the Nifty 50 continues to trade within a consolidation zone, forming a neutral candlestick pattern on the daily chart.
Technical Outlook: Key Levels to Watch
Market analysts suggested that Nifty needs to decisively break above the 24,500 mark for the next leg of upward momentum. If breached, potential upside targets include 24,700 and 24,800. On the downside, support levels lie at 24,200 and 24,000, which could offer buying opportunities on dips, according to Mandar Bhojane of Choice Broking.
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Sectoral Trends: Auto, FMCG, Private Banks Outperform
Among sectors:
- Gainers: Auto, FMCG, and private banking stocks led the rally.
- Losers: Pharma, realty, and media stocks underperformed.
Top Gainers and Laggards in the Sensex Pack
Top Gainers:
- M&M
- Bharti Airtel
- Bajaj Finserv
- HUL
- Nestle
- Tata Steel
- Axis Bank
- L&T
- IndusInd Bank
- ITC
Top Laggards:
- Sun Pharma
- Tata Motors
- Titan
- SBI
- TCS
- Bajaj Finance
- Ultratech Cement
Asian Markets Mixed; US Markets Ended in Red
Most Asian stock markets traded in positive territory, with Shanghai and Hong Kong gaining on optimism surrounding potential US-China trade talks. However, Japan and South Korea markets remained closed for public holidays.
Meanwhile, US markets closed lower in the last session, reflecting cautious global sentiment.
FIIs and DIIs Continue Strong Inflows
On the institutional front, both foreign and domestic investors remained net buyers:
- FIIs (Foreign Institutional Investors) bought equities worth ₹497 crore
- DIIs (Domestic Institutional Investors) invested ₹2,788 crore
This sustained inflow suggests strong market confidence despite global volatility.