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Sensex, Nifty Open Flat Amid Mixed Global Cues and FII Selling Pressure

Indian benchmark indices opened on a flat note with mixed global cues influencing trading sentiment. The Sensex was marginally down at 83,718 while Nifty traded at 25,748, showing minimal movement in early trading. Foreign institutional investors continued their selling spree, offloading equities worth Rs 1,883 crore on Monday. However, domestic institutional investors remained net buyers for the seventh consecutive session, providing some support to the markets.

Key Points: Sensex Nifty Flat Opening Mixed Global Cues FII Selling

  • Sensex opens marginally down 18 points at 83,718 amid mixed global market signals
  • Auto sector leads losses with Nifty Auto declining 0.48 percent
  • FIIs sell equities worth Rs 1,883 crore while DIIs continue buying streak
  • Analysts identify immediate resistance at 25,850 with support at 25,600 levels
2 min read

Sensex, Nifty open flat amid mixed global cues

Indian stock markets open flat as FIIs continue selling pressure amid mixed global cues. Sensex trades at 83,718 while Nifty at 25,748 with auto sector leading losses.

"FIIs' renewed selling is constraining the rally in the market - Market Analysts"

Mumbai, Nov 4

Indian benchmark indices opened on a flat note on Tuesday, amid mixed global cues and a lack of strong domestic triggers.

As of 9.25 am, the Sensex was marginally down 18 points, or 0.02 per cent at 83,718 and the Nifty was down 14 points, or 0.05 per cent at 25,748.

The broadcap indices performed in line with benchmarks, with the Nifty Midcap 100 down 0.08 per cent and the Nifty Smallcap 100 losing 0.12 per cent.

Titan Company, Cipla and Trent were among the major gainers in the Nifty Pack, while losers included Tata Consumer, Maruti Suzuki, Apollo Hospitals and Hindalco.

Among sectoral indices, except for Nifty Media, Nifty Oil and gas, Consumer Durables and Realty, all indices were in the red. Nifty Auto was the major loser, down 0.48 per cent, while FMCG and IT lost 0.22 per cent and 0.21 per cent, respectively.

Analysts expect the FII strategy of selling in India on rallies and moving money to other markets to continue in the near term.

FIIs’ renewed selling is constraining the rally in the market. This is an indication that they will continue to sell on rallies, they added.

However, this is likely to be a short-term challenge. Medium-term prospects look good with robust GDP growth and impressive sales data, particularly from automobiles, according to market watchers.

Meanwhile, US Federal Reserve officials on Monday continued pressing competing views on the economy, a debate set to intensify ahead of the Fed's December policy meeting and in the absence of key data, including from the Bureau of Labor Statistics, due to the federal government shutdown.

The US markets ended in the green zone overnight, as Nasdaq added 0.46 per cent, the S&P 500 moved up 0.17 per cent, and the Dow lost 0.48 per cent.

Most of the Asian markets were trading in the red during the morning session. While China's Shanghai index slipped 0.21 per cent, and Shenzhen lost 1.29 per cent, Japan's Nikkei declined 0.1 per cent, while Hong Kong's Hang Seng Index added 0.28 per cent. South Korea's Kospi declined 1.59 per cent.

Foreign institutional investors (FIIs) sold equities worth Rs 1,883 crore on Monday, while domestic institutional investors (DIIs) were net buyers of equities for the seventh straight session, purchasing shares worth Rs 3,516 crore.

Analysts place immediate resistance at 25,850, followed by 25,900 and 26,000. On the downside, support levels are identified at 25,600 and 25,650.

- IANS

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Reader Comments

P
Priya S
Auto sector down 0.48% is worrying since we just had good festival sales. Maybe profit booking after the recent rally? Need to watch Maruti and Tata Motors closely.
A
Aditya G
FIIs selling ₹1,883 crore while DIIs buying ₹3,516 crore - this pattern has been consistent. Foreign investors missing out on India's growth story! Medium term looks solid with our GDP numbers.
S
Sarah B
As someone who tracks global markets, India is holding up remarkably well compared to Asian peers. While most Asian markets are in red, we're almost flat. Shows resilience!
K
Karthik V
The constant FII selling is frustrating. They take profits at every small rally and then miss the bigger uptrend. Domestic investors should get more credit for supporting our markets through this.
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Meera T
Good to see Titan and Trent among gainers. These consumer stocks usually do well during festival season. Small correction after Diwali rally is normal, nothing to worry about.
D
David E
While the article mentions medium-term prospects look good, I wish there was more analysis on how retail investors should position themselves. The support and resistance levels mentioned are helpful though.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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