Mumbai, April 22: The Indian stock market opened on a weak note on Wednesday, influenced by mixed global signals. The Sensex fell by 253.99 points or 0.32%, starting at 79,019.34, while the Nifty dropped by 105.75 points or 0.43%, opening at 24,470.85.
The IT sector was under pressure during the initial trading hours, with Nifty IT being the top loser. Other indices such as Nifty Services, Nifty Private Bank, Nifty Healthcare, Nifty Pharma, Nifty Financial Services, Nifty Infra, and Nifty PSU also opened in the red.
Conversely, Nifty FMCG, Nifty India Defense, Nifty Media, Nifty Metal, Nifty PSU Bank, and Nifty Realty showed gains.
In the Sensex pack, HUL, NTPC, Trent, Bajaj Finance, Eternal, Kotak Mahindra Bank, Ultratech Cement, Bajaj Finserv, and SBI were among the gainers. Meanwhile, HCL Tech, Tech Mahindra, Infosys, TCS, ICICI Bank, Asian Paints, Power Grid, BEL, Indigo, M&M, Sun Pharma, L&T, Titan, Axis Bank, and Bharti Airtel faced losses.
Midcap and small-cap stocks showed mixed performance. The Nifty Midcap 100 index fell by 91 points or 0.15% to 59,995, while the Nifty Smallcap 100 index rose by 38 points or 0.21% to 17,679.
Asian markets exhibited mixed trends. Tokyo, Shanghai, and Bangkok were in the green, while Hong Kong and Seoul were in the red. The US stock market closed lower on Tuesday.
Akash Shah, a technical analyst at Choice Broking, noted that Nifty is trading around its resistance zone of 24,550-24,650. Consolidation and profit booking may be observed at this level, with support around 24,300-24,200.
Foreign institutional investors (FIIs) were net sellers in the Indian stock market on Tuesday, offloading shares worth ₹1,918.99 crore. In contrast, domestic institutional investors (DIIs) were net buyers, purchasing shares worth ₹2,221.27 crore.
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