Indian Stock Market Opens Mixed Amid Realty and IT Sell-off

Mumbai, August 4: The Indian stock market opened on a mixed note on Tuesday. At 9:21 AM, the Sensex rose by 149 points or 0.19% to reach 78,788, while the Nifty fell by 160 points or 0.65% to settle at 24,618.

In early trading, the market witnessed selling pressure led by the realty and IT sectors. The Nifty Realty and Nifty IT indices were among the top losers, each declining by nearly 1%. Other sectors such as Nifty FMCG, Nifty Consumer Durables, Nifty Financial Services, Nifty Pharma, Nifty Oil and Gas, Nifty Healthcare, Nifty Auto, Nifty Infra, and Nifty PSU also traded in the red. Only the Nifty Metal and Nifty Energy indices showed positive movement.

Conversely, midcap and small-cap stocks experienced gains. The Nifty Midcap 100 index fell by 87 points or 0.23% to 63,535, while the Nifty Smallcap 100 index rose by 92 points or 0.48% to 19,684.

Among the gainers in the Sensex pack were Asian Paints, Tata Steel, Trent, Adani Ports, Bajaj Finance, Bajaj Finserv, BEL, Indigo, Power Grid, Bharti Airtel, Sun Pharma, Eternal, ICICI Bank, Axis Bank, HCL Tech, ITC, UltraTech Cement, and M&M. In contrast, HUL, Infosys, Tech Mahindra, TCS, HDFC Bank, Titan, Maruti Suzuki, and SBI were among the losers.

Most Asian markets also showed mixed trading. Shanghai, Bangkok, and Jakarta were in the green, while Tokyo, Hong Kong, and Seoul were in the red. The U.S. stock markets closed higher, with the Dow Jones rising by 1.32% and the tech-heavy Nasdaq gaining 2.13%.

Experts suggest that a significant trend from an investor’s perspective is the positive progress seen in the economy and the market. The economy is showing strong growth, evidenced by robust credit growth, a consistent rise in auto sales, and improved GST collections. A noteworthy positive aspect from the market’s viewpoint is the return of foreign investors to the Indian market.