Mumbai, Nov 19
Indian stock markets opened flat with a slight negative trend on Wednesday as mixed global cues and a lack of major domestic triggers kept investor sentiment muted.
With the Q2 FY26 earnings season coming to an end, traders showed limited enthusiasm, leaving the indices stuck in a narrow range.
The Sensex slipped 81 points, or 0.10 per cent, to 84,592 in early trade. The Nifty also declined, dropping 34 points, or 0.13 per cent, to 25,877.
"The broader benchmark Nifty 50 remains range-bound after the prior session, with resistance seen around 26,000-26,050 and near-term support in the 25,800-25,750 band -- a potential accumulation zone for positional traders," experts said.
"Given this setup, a selective buy-on-dips strategy remains appropriate -- apply tight trailing stop-losses, and book partial profits on rallies," analysts mentioned.
Tata Motors PV, NTPC, Bajaj Finserv, Eternal and Sun Pharma were among the major drags on the Sensex.
However, gains in HUL, Infosys, TCS, Tata Steel, Tech Mahindra, and Trent helped cushion the fall and prevented a deeper decline.
In the broader market, the trend remained weak. The Nifty MidCap index slipped 0.06 per cent, while the Nifty SmallCap index fell 0.23 per cent.
Sector-wise, the Nifty IT index was the only notable performer, rising 0.62 per cent as technology stocks saw selective buying.
On the other hand, real estate stocks struggled, with the Nifty Realty index emerging as the biggest loser, down 0.5 per cent.
Analysts said markets may continue to remain rangebound in the absence of fresh triggers and ahead of global macroeconomic developments expected later this week.
"Investors should prioritise safety at this juncture. Safety is in large caps. Large segments of the mid and small cap space are overvalued having been driven up only by liquidity flows from exuberant investors," analysts said.
- IANS
Reader Comments
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.