Mumbai, August 6: The Indian stock market opened flat on Thursday. At 9:27 AM, the Sensex was up by 163 points or 0.21% at 78,743, while the Nifty rose by 13 points or 0.06% to 24,636.
Initial trading saw support from defense stocks. The Nifty India Defense index emerged as the top gainer, climbing 1.25%. Additionally, sectors like Nifty Consumer Durables, Nifty Pharma, Nifty PSU Bank, Nifty Healthcare, and Nifty Oil and Gas also recorded gains.
Conversely, sectors such as Nifty Realty, Nifty Auto, Nifty Energy, Nifty IT, Nifty Media, Nifty Commodities, and Nifty PSU were in the red.
Mid and small-cap stocks exhibited mixed performance. The Nifty Midcap 100 index fell by 78 points or 0.12% to 63,527, while the Nifty Smallcap 100 index gained 79 points or 0.38% to reach 19,859.
In the Sensex pack, gainers included Titan, Eternal, BEL, SBI, Asian Paints, ICICI Bank, L&T, Bajaj Finance, Tata Steel, ITC, Bajaj Finserv, Tech Mahindra, Bharti Airtel, and Sun Pharma. Losers comprised Power Grid, Trent, M&M, Axis Bank, Ultratech Cement, TCS, NTPC, Kotak Mahindra Bank, Maruti Suzuki, Infosys, HDFC Bank, and Indigo.
Global markets also showed mixed trends. Tokyo, Hong Kong, Seoul, and Jakarta were in the red, while Shanghai managed to stay in the green. In the previous session, the US stock market saw the Dow Jones index rise by 0.49%, whereas the technology index Nasdaq closed down by 0.83%.
Experts noted that despite the market’s volatility and weakness, support levels remain largely intact, increasing the likelihood of a strong upward bounce. However, surpassing the 24,775 level is crucial, as moving above 24,650 could trigger a potential breakout.
Foreign Institutional Investors (FIIs) sold off during Wednesday’s session, withdrawing ₹943.42 crore from equities. Meanwhile, Domestic Institutional Investors (DIIs) pulled out ₹2,883.17 crore from the equity market.
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