Mumbai: Indian stock markets started the day in the red on Wednesday, tracking mixed global signals. Both benchmark indices—Sensex and Nifty—opened lower, as cautious sentiment gripped investors amid global uncertainties and key technical levels being closely watched.
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Sensex Down by 141 Points, Nifty Drops 57 Points
At 9:26 AM, the BSE Sensex was down 141 points or 0.17% at 82,429, while the NSE Nifty declined 57 points or 0.23% to settle at 25,138 in early trade. Despite the negative opening, midcap and smallcap indices showed strength, trading with marginal gains.
- Nifty Midcap 100: +23 points at 59,636
- Nifty Smallcap 100: +15 points at 19,150
Sectoral Performance: IT, PSU Banks, FMCG Lead Gainers
In early trade, sectoral performance was mixed:
Gainers:
- IT
- PSU Banks
- FMCG
- Realty
- Media
- PSE stocks
Losers:
- Auto
- Financial Services
- Pharma
- Metals
- Energy
Key Stock Movers in Sensex Pack
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Top Gainers:
- Adani Ports
- Trent
- Tech Mahindra
- HDFC Bank
- SBI
- Infosys
- ITC
- HCL Tech
- BEL
Top Losers:
- M&M
- Tata Steel
- Tata Motors
- Bajaj Finance
- ICICI Bank
- Eternal
- TCS
- Ultratech Cement
Technical Outlook: Nifty Holding 25,000 Crucial Support Zone
According to analysts, Nifty 50 recently rebounded after retesting the key support at 25,000, suggesting bullish momentum might be building. However, traders are advised caution.
“A sustained uptrend can only be confirmed if Nifty holds above 25,250,” said Aakash Shah, analyst at Choice Equity Broking.
Market Commentary: Breakout Needs Stronger Triggers
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented:
“The market has been stuck in a narrow range for two months. A breakout beyond Nifty 25,500 needs a positive trigger—possibly a US-India trade deal.”
He emphasized that earnings growth, not just policy announcements, would be the true catalyst for a sustained market rally.
Global Markets Mixed; FIIs Turn Net Buyers Again
Global Market Overview:
- Positive: Tokyo, Hong Kong, Jakarta, Bangkok
- Negative: Shanghai, Seoul
- US Markets: Dow Jones closed down 0.98%
Institutional Activity:
- FIIs: Turned net buyers with Rs 120 crore in purchases (July 15)
- DIIs: Continued buying streak with Rs 1,555 crore investments on the same day