Mumbai: Indian equity benchmarks opened nearly flat on Thursday, reflecting caution among investors amid heightened geopolitical tensions following ‘Operation Sindoor’. At 9:26 AM, the BSE Sensex edged up 25 points to 80,772 while the NSE Nifty dipped marginally by 3 points to 24,410.
Sector Performance Mixed
Market sentiment was mixed across sectors. Auto, IT, PSU banks, financial services, media, energy, and private banking stocks posted early gains. However, sectors like pharma, FMCG, metal, realty, and infrastructure saw selling pressure.
The Nifty Midcap 100 rose by 166 points (0.30 per cent) to 54,445, while the Nifty Smallcap 100 index climbed 132 points (0.81 per cent) to 16,550—indicating strength in broader markets.
Global Cues Offer Some Support
Asian markets reflected optimism, tracking overnight gains in US markets. Tokyo, Shanghai, Hong Kong, and Seoul traded in the green, while Bangkok and Jakarta lagged. This uptick came as Wall Street rallied on optimism around potential easing in US tariffs.
Prashanth Tapse, Senior VP (Research) at Mehta Equities, noted, “The street will react to Jerome Powell's comments on higher tariffs after the Fed kept interest rates unchanged. A positive US-China trade dialogue this weekend could further support sentiment.”
Top Gainers and Losers
Among Sensex stocks, Tata Motors, Kotak Mahindra Bank, Power Grid, Axis Bank, Adani Ports, Bajaj Finance, HCL Tech, and SBI emerged as top gainers. On the downside, ITC, Maruti Suzuki, HDFC Bank, Tata Steel, Sun Pharma, and ICICI Bank led the losers’ pack.
Technical Outlook and Market Watch
Tapse also emphasized technical levels, identifying 24,171 as a key support for Nifty. With geopolitical and global trade developments in focus, the market could remain volatile despite underlying bullish trends in select segments.
