The Indian stock market opened flat on Thursday ahead of the release of retail inflation data. Early trading saw selling pressure in the auto, IT, and PSU bank sectors.
At around 9:28 AM, the Sensex was trading 69.22 points or 0.08 percent higher at 82,584.36, while the Nifty rose 23.65 points or 0.09 percent to 25,165.05.
The Nifty Bank index gained 98.65 points or 0.17 percent to 56,558.40. Conversely, the Nifty Midcap 100 index fell 120.40 points or 0.20 percent to 59,267.75, and the Nifty Smallcap 100 index declined 26.40 points or 0.14 percent to 18,772.35.
Analysts noted that although the Nifty closed at a high level yesterday, it slipped from its intraday peak. Technically, yesterday’s candlestick was a doji with a slightly long upper shadow following an ‘upside-gap to crow’ pattern, indicating that bulls will focus on maintaining the 25,029 level in the near term.
Akshay Chinchalkar, Head of Research at Axis Securities, said, “If bears manage to pull the Nifty below the 24,987-25,029 zone, testing the 24,800-24,863 area will become a high probability event.”
Among Sensex stocks, Asian Paints, Sun Pharma, Bajaj Finserv, Bharti Airtel, Bajaj Finance, NTPC, and HDFC Bank were the top gainers. On the other hand, Infosys, ITC, Tata Motors, Tech Mahindra, HCL Tech, Tata Steel, and IndusInd Bank were among the top losers.
In Asian markets, Hong Kong, Bangkok, Jakarta, and Japan were trading in the red, while Seoul and China were in the green.
In the previous session, US markets closed lower with Dow Jones down 1.10 points or 0.00 percent at 42,865.77. The S&P 500 index fell 16.57 points or 0.27 percent to 6,022.24, and the Nasdaq dropped 99.11 points or 0.50 percent to 19,615.88.
Experts suggest that the flat trend in the market is likely to continue in the near term due to the absence of clear positive triggers to push the markets higher.
Reports of a possible agreement between the US and China are circulating, but China has not yet officially confirmed this.
Dr. V.K. Vijaykumar, Chief Investment Strategist at Geojit Investment Limited, said, “US President Donald Trump has announced plans to send letters in the next two weeks to trade partners regarding universal tariffs. Market participants are awaiting clarity on this. The tariff issue is not yet resolved.”
On the institutional front, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹446.31 crore on June 11, while Domestic Institutional Investors (DIIs) bought equities worth ₹1,584.87 crore.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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