Indian equity markets opened on a muted note Thursday morning as investors awaited new cues to help break the prevailing consolidation phase.
The BSE Sensex dipped slightly by 15 points to open at 82,619, while the NSE Nifty edged down by 2 points to 25,210. Despite the cautious start in benchmark indices, investor interest remained strong in the broader markets. The Nifty Midcap 100 rose 123 points (0.18%) to 59,741, while the Nifty Smallcap 100 gained 70 points (0.37%) to trade at 19,210.
Sector-wise, auto, pharma, FMCG, metals, real estate, energy, infrastructure, and public sector enterprises registered early gains. On the other hand, IT, PSU banks, financial services, and media stocks came under selling pressure.
Among the Sensex constituents, Sun Pharma, M&M, Trent, Kotak Mahindra Bank, Tata Motors, NTPC, BEL, Titan, and Power Grid were among the top performers. Meanwhile, Tech Mahindra, ICICI Bank, Axis Bank, Infosys, and Hindustan Unilever were among the major laggards.
Market analysts noted that expectations around an India-US interim trade deal have already been priced in, limiting chances for an immediate breakout. However, any unexpected tariff reductions—such as duties below 20%, possibly around 15%—could provide a fresh upward push.
Most Asian markets were trading flat to slightly positive. Indices in Tokyo, Shanghai, Bangkok, and Jakarta posted gains, while Hong Kong and Seoul remained in negative territory.
Wall Street closed higher on Wednesday, aided by positive sentiment across key sectors. Back home, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) provided support to the market for the eighth consecutive session, purchasing shares worth ₹1,223 crore.
While short-term movements remain range-bound, analysts believe the broader outlook remains constructive, provided critical support levels hold firm.
