Mumbai: The Indian equity markets opened on a weaker note Thursday, impacted by mixed global signals and selling pressure in heavyweight stocks such as Power Grid, Kotak Mahindra Bank, and Sun Pharma.
Table of Contents
At 9:26 am, the Sensex fell 208 points or 0.26% to 81,122, while the Nifty slipped 54 points or 0.22% to 24,612.
Midcap and Smallcap Indices Show Strength
Contrary to the frontline indices, buying interest was seen in midcap and smallcap segments.
- Nifty Midcap 100 rose 169 points or 0.30% to 56,306
- Nifty Smallcap 100 gained 96 points or 0.56% to 17,243
Sectoral Trends
Gainers:
- Auto
- PSU Banks
- Metal
- Media
- Infra
- Commodities
Losers:
- IT
- FMCG
- Realty
- Energy
Expert View
“If the index sustains above the 24,700 level, it could move higher toward the 24,850–25,000 range. On the downside, immediate support is seen at 24,500 and 24,350, which may serve as attractive entry points for long positions,”
Also Read: Sensex, Nifty Open Higher as Inflation Eases and Geo-Political Tensions Subside
Key Movers on Sensex
Top Gainers:
- Adani Ports
- Tata Motors
- Bharti Airtel
- Tech Mahindra
- Tata Steel
- UltraTech Cement
- Bajaj Finance
Top Losers:
- Power Grid
- IndusInd Bank
- Sun Pharma
- Infosys
- Eternal (Zomato)
- Axis Bank
Global Market Snapshot
Most Asian markets traded in the red, including:
- Tokyo
- Shanghai
- Hong Kong
- Bangkok
- Seoul
Jakarta was the only notable gainer.
In the US, markets ended mixed on Wednesday:
- Dow Jones fell 0.21%
- Nasdaq rose 0.72%
Institutional Activity
- FIIs were net buyers of equities worth ₹931 crore on May 14
- DIIs bought equities worth ₹316 crore
Caution Advised
“Given the current environment of market uncertainty and heightened volatility, traders are advised to adopt a cautious ‘wait and watch’ approach, especially when dealing with high-leverage positions,”