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Indian Stock Market Opens Flat, Sensex Holds Above 76,700

Rajeshwari R by Rajeshwari R
April 16, 2025
in Business
Reading Time: 4 mins read
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Indian Stock Market Opens Flat, Sensex Holds Above 76,700

Indian Stock Market Opens Flat, Sensex Holds Above 76,700

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Markets Open Flat Amid Global Weakness; Nifty Holds Above Key Moving Averages

Domestic equity benchmarks opened on a cautious note Wednesday as global cues weighed on investor sentiment, with early losses seen in IT and auto stocks. However, gains in banking counters helped limit the downside.

At around 9:29 AM, the BSE Sensex was trading marginally higher by 23.12 points or 0.03 percent at 76,758.01, while the NSE Nifty rose 5.90 points or 0.03 percent to 23,334.45.

Sectoral Performance:

  • Nifty Bank led the charge, rising 258.05 points or 0.49 percent to 52,637.55.
  • Nifty Midcap 100 was up 173.90 points or 0.33 percent at 52,148.35.
  • Nifty Smallcap 100 gained 105.50 points or 0.65 percent to 16,284.80.

According to analysts, the Nifty has successfully reclaimed levels above its 20-, 50-, and 100-day moving averages, which is considered a bullish signal.

“Looking ahead, the next significant resistance level for the Nifty appears to be around 23,869, which coincides with the previous swing high. On the downside, the 22,900–23,000 zone is expected to offer immediate support,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

Top Movers:

  • Top gainers on the Sensex included HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, and Axis Bank.
  • Top losers were Infosys, Maruti Suzuki, Tech Mahindra, HCL Tech, and Sun Pharma, reflecting weakness in IT and auto sectors.

Global Market Cues: Wall Street closed slightly lower in the previous session. The Dow Jones Industrial Average slipped 0.38 percent to 40,368.96, while the S&P 500 lost 0.17 percent to close at 5,396.63. The Nasdaq Composite edged down 0.05 percent to 16,823.17 amid uncertainty over global tariffs and sectoral weakness in consumer and healthcare stocks.

Asian Market Snapshot:

  • Jakarta traded in the green.
  • Major indices in Japan, Seoul, China, Bangkok, and Hong Kong were in the red, reflecting a largely risk-off sentiment in the region.

FII & DII Activity: In a positive reversal, Foreign Institutional Investors (FIIs) turned net buyers after a nine-day selling streak, purchasing equities worth ₹6,065.78 crore on April 15. However, Domestic Institutional Investors (DIIs) turned net sellers, offloading ₹1,951.60 crore worth of equities the same day.

Market participants are expected to remain cautious amid global volatility and await further cues from earnings announcements and macroeconomic indicators.

Tags: BSE SensexIndian Equity MarketIndian Stock MarketMarketNiftyNSE NiftySensexTOP

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