On Wednesday, the stock market began its day on a flat note, as investors took a break following a four-session rally.
At the National Stock Exchange (NSE), the Nifty started at 24,680.50, an increase of 18.30 points, while the BSE Sensex opened at 80,667.30, showing a decrease of 135.61 points. Analysts note that the Indian stock market is closely monitoring global trends this week.
Early gainers on the NSE included Divi’s Laboratories, Dr Reddy’s Laboratories, SBI Life, Nestle India, and Hindalco. In contrast, UltraTech Cement, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, and Tata Steel were among the top losers during the initial trading hours.
But, Sectoral stocks on the NSE saw varied performances, as Auto, FMCG, Media, Metal, Pharma, Healthcare, Consumer Durables, and Oil and Gas sectors were in positive territory, while Realty, Private Banks, PSU Banks, IT, and Financial sectors were in the negative.
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However as per Market and Banking Expert Ajay Bagga, the underlying structural conditions, including decreasing inflation, strong macroeconomic indicators, and resilient domestic liquidity, support a positive market outlook, despite the current market flatness.
Meanwhile in worldwide arena, U.S. stocks closed slightly lower on Tuesday, with the Nasdaq Composite down 0.33%, the S&P 500 down 0.20%, and the Dow Jones down 0.15%. Asian markets were mixed, with Japan’s Nikkei 225 declining 0.77% and South Korea’s KOSPI down 0.17%, while China’s Shanghai Composite gained 0.14%.
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Moreover, Crude oil prices were also down, with WTI crude at USD 73.09, a 0.78% decrease, and Brent crude at USD 77.11, down 0.71%.
(With Inputs from ANI)
