The Impressive TimesNew Delhi : A day after a volatile trading session, Indian benchmark indices Sensex and Nifty opened on a muted note on Wednesday, despite positive cues from the U.S. market and a weakening U.S. dollar. The cautious start suggests that traders are treading carefully, awaiting fresh domestic and global triggers for directional clarity.
At the opening bell, the BSE Sensex declined by 94.01 points, starting the day at 81,457.61, while the Nifty 50 edged up by 6.3 points to open at 24,832.50. On Tuesday, the Sensex had closed at 81,551.63 and the Nifty at 24,826.20, reflecting a consolidation phase after recent highs.
The broader market showed mixed sentiment. The BSE Smallcap index rose by over 100 points, indicating investor interest in smaller companies, while the BSE Midcap index slipped nearly 90 points, reflecting selective profit-booking in mid-tier stocks.
From the Sensex basket, Infosys emerged as the top gainer, registering a 0.76% rise in early trade, followed by Bharti Airtel, Tata Motors, Bajaj Finance, and NTPC, which also opened in the green. These gains provided partial support to the index.
Conversely, heavyweight ITC led the drag on the index, plunging by around 3.55%. Other major laggards included Titan, Nestle India, IndusInd Bank, and Mahindra & Mahindra, which witnessed selling pressure in early trade.
Market breadth remained positive in the Nifty pack, with 1,520 stocks trading in the green, 518 in the red, and 105 remaining unchanged, highlighting a largely optimistic undertone despite the benchmark indices’ flat performance.
Globally, U.S. markets closed higher overnight, with investors betting on a potential interest rate cut by the Federal Reserve later this year. The dollar index weakened, further supporting risk assets across emerging markets. However, domestic uncertainty over quarterly earnings, foreign fund flows, and macroeconomic indicators are likely to keep market participants on edge in the near term.
Experts suggest that while the broader structure remains bullish, investors may witness sectoral rotation and stock-specific action in the coming sessions. Technical indicators suggest strong support for the Nifty around 24,750 and resistance near 24,950 in the short term.
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