Indian equities opened largely flat but marginally lower on Wednesday, pressured by downbeat international cues on the third trading day of the week. At 9:22 AM, BSE Sensex was down 167.99 points (0.20%) at 82,012.48, and NSE Nifty50 slipped 24.35 points (0.10%) to 25,208.15.
The session began with most Nifty indices flashing red. Midcap and smallcap segments underperformed, with Nifty Midcap off 0.36% and Nifty Smallcap down 0.47%.
Sectoral performance was mixed. Pharma led gainers with 0.8% uptick, trailed by Metal (0.3%), Auto (0.2%), and FMCG (0.16%). Realty (-0.7%) and private banks (-0.3%) dragged indices lower.
Sensex losers included ICICI Bank, BEL, HCL Tech, Trent, Infosys, L&T, and TCS. Gainers were Eternal, Indigo, Sun Pharma, Powergrid, UltraTech Cement, Tech Mahindra, Tata Steel, HUL, and Adani Ports.
Following yesterday’s steep correction, investor sentiment remains fragile amid elevated volatility. Markets lack firm footing at current levels, experts note.
Technically, Nifty’s key resistance lies between 25,350 and 25,400. Failure to breach this may limit rallies. Support at 25,050-25,100 is pivotal; breakdown could see it test 24,800-24,900.
FII selling persists, weighing on sentiment, while DIIs provide some ballast through purchases. Rising India VIX underscores potential for further swings.
In this volatile setup, traders should exercise caution, focus on risk controls, and monitor support zones closely. Patient investors may eye dips for entry points once stability returns.