Indian equity markets opened on a flat note on Friday as investors adopted a cautious stance amid anticipation of an official announcement regarding a potential US-India trade deal.
At the opening bell, the Sensex declined 113 points (0.13%) to 84,443, while the Nifty slipped 27 points (0.10%) to 25,866.
Market analysts said investor sentiment remains optimistic about the proposed trade deal between India and the United States, though no formal confirmation has been issued yet.
In the broader market indices on the NSE, Nifty Midcap gained marginally by 0.02%, while other major indices, including Nifty 100, opened under pressure.
Among sectoral indices, Nifty Metal surged over 1.12%, supported by buying in select heavyweights, while Nifty Realty also posted modest gains. On the downside, Nifty FMCG fell 1.27%, and Nifty Pharma declined 0.75% as investors booked profits after recent gains.
Globally, sentiment remained subdued, and sharp decline in gold and silver prices during the week also created a mild negative wealth effect, analysts noted.
Investors are also eyeing Q2 FY26 earnings announcements from several key companies today, including Dr. Reddy’s Laboratories, SBI Life Insurance, ITC Hotels, Coforge, Aditya Birla Sun Life AMC, Brigade Hotel Ventures, eClerx Services, Jinkushal Industries, Latent View Analytics, NACL Industries, and SBI Cards.
Vaishali Parekh, Vice President – Technical Research at PL Capital, said, “The Nifty index is approaching the previous peak zone around the 26,300 level and has crucial support near the trendline zone of 25,400. Sustaining above this level will be key for maintaining the positive trend in the near term.”
Across Asia, markets traded mostly higher. Japan’s Nikkei 225 rose 1.37%, Hong Kong’s Hang Seng gained 0.60%, Singapore’s Straits Times advanced 0.37%, and South Korea’s KOSPI rallied over 2%, while Taiwan’s market remained closed for a holiday.
(With agency inputs)
