Indian equity benchmarks opened in the green on Thursday amid mixed global cues. Early trading saw buying activity in the financial services and PSU bank sectors.
Around 9:31 AM, the Sensex was up by 61.17 points, or 0.08%, at 74,090.93, while the Nifty increased by 2.15 points, or 0.01%, to 22,472.65.
The Nifty Bank index gained 113.10 points, or 0.24%, to reach 48,169.75, while the Nifty Midcap 100 index dropped 49.80 points, or 0.10%, to 48,436.80. The Nifty Smallcap 100 index saw a decline of 62.90 points, or 0.42%, to 14,981.45.
Market watchers had expected the Indian equity markets to open flat or slightly bullish, as indicated by the GIFT Nifty, which was trading around 22,570 in early trade.
Hardik Mataliya of Choice Broking mentioned, “The cautious market sentiment reflects the absence of strong domestic triggers and global cues. Investors will closely monitor global trends, crude oil prices, and institutional flows to gauge market direction.”
In the Sensex pack, IndusInd Bank, Tata Steel, Zomato, Bajaj Finserv, ICICI Bank, Tech Mahindra, Infosys, and SBI were the top gainers. On the other hand, Hindustan Unilever, Sun Pharma, Tata Motors, UltraTech Cement, and Asian Paints were among the top losers.
Experts suggest that, given the current market dynamics, traders should exercise caution and wait for confirmation of price action at critical levels before initiating new positions.
In the previous trading session, U.S. markets saw mixed results, with the Dow Jones falling by 0.20%, the S&P 500 rising by 0.49%, and the Nasdaq climbing by 1.22%.
Asian markets were mostly in the green, while China and Hong Kong traded in the red.
Foreign institutional investors (FII) sold ₹1,627.61 crore worth of shares on March 12, while domestic institutional investors (DII) purchased ₹1,510.35 crore of shares on the same day.
