Synopsis: Indian markets opened flat on Thursday as global cues remained weak and major domestic triggers were absent. While large-cap indices were volatile, small and midcaps outperformed, even as IT and bank stocks dragged.
Indian equity markets opened on a cautious note Thursday, with the BSE Sensex slipping slightly and the Nifty50 hovering near the flatline amid mixed global signals and a lack of major domestic triggers. At the opening bell, Sensex was down 91.38 points (0.11%) at 81,239.18, while Nifty50 edged up 21.40 points (0.09%) to 24,688.30.
Despite the choppy start for large caps, small and midcap stocks gained ground, reflecting selective investor interest. IT and banking stocks lagged, putting pressure on the broader market sentiment.
The day’s movement is expected to be influenced by a blend of global and domestic elements. On the radar are the ongoing Q4 earnings, FII activity, and a critical speech by US Fed Chair Jerome Powell, which may provide insights into the Fed’s future stance on interest rates.
Global Market Overview:
Asian markets traded lower amid weak global momentum. Japan’s Nikkei 225 fell 1.09%, Topix lost 1.04%, and South Korea’s Kospi and Kosdaq slipped 0.24% and 0.66%, respectively. Meanwhile, Hong Kong’s Hang Seng dipped 0.5%, and China’s CSI 300 was down 0.93%. Australia’s ASX 200 edged down 0.07%.
In the US, overnight action saw mixed results. The Nasdaq Composite outperformed with a 0.72% gain, while the S&P 500 rose slightly by 0.10%. However, the Dow Jones Industrial Average dipped 0.21%. US stock futures were trending lower in early Asian hours, suggesting a cautious Wall Street open.
With volatility likely to persist ahead of Powell’s remarks, traders are expected to remain nimble and selectively bullish on small and mid-cap opportunities.
Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice. Please consult your financial advisor before making any investment decisions.
