Indian equities kick off Thursday flat: Foreign and domestic investors show continued interest
Mumbai: Indian stock markets opened flat on Thursday, showing a slight positive bias, following upbeat global trends.
At the opening bell, the Sensex rose 17 points, or 0.02 per cent, to 81,791, while the Nifty gained 17 points, or 0.07 per cent, to trade at 25,063.
“From a technical perspective, a sustained move above 25,150 on the Nifty could pave the way for an upside towards 25,200–25,250,” analysts said. “On the downside, immediate support is placed around 24,950-24,900, which may serve as potential accumulation zones for long positions. Overall, the index is expected to remain range-bound between 24,900 and 25,200 in the near term.”
Broader markets also showed strength, with the Nifty MidCap index rising 0.3 per cent and the Nifty SmallCap index advancing 0.21 per cent.
On the institutional front, Foreign Institutional Investors (FIIs) continued their buying streak for a second consecutive session on 8 October, purchasing equities worth ₹81 crore, while Domestic Institutional Investors (DIIs) bought equities worth ₹329 crore.
Asian markets traded higher following record closing highs on Wall Street for the S&P 500 and Nasdaq Composite. Investor sentiment also improved after US President Donald Trump announced that Israel and Hamas had agreed to the first phase of a US-brokered peace plan to pause fighting in Gaza and allow the release of hostages and prisoners.
Market experts said traders remained cautiously optimistic, monitoring global cues and geopolitical developments. The results season starting today will be keenly watched by the market. IT stocks have witnessed some recovery from the bottom, but the headwinds for the segment continue to be strong,” they said.
“Banking stocks have largely remained range-bound on muted earnings expectations. The NIM pressure and rising delinquencies in the unsecured loan segments will weigh on banking results generally. So, watch out for the out-performers in the segment,” they added.
IANS