Indian stock market opens flat, Sensex above 78,000

Mumbai:  The domestic benchmark indices opened flat on Wednesday amid positive global cues, as buying was seen in the realty sector in the early trade.

At around 9.29 am, Sensex was trading 78.19 points or 0.10 per cent up at 78,095.38 while the Nifty added 46.80 points or 0.20 per cent at 23,715.45.

Nifty Bank was up 50.35 points or 0.10 per cent at 51,658.30. The Nifty Midcap 100 index was trading at 52,082.25 after adding 112.50 points or 0.22 per cent. Nifty Smallcap 100 index was at 16,088.95 after declining 19.95 points or 0.12 per cent.

According to market watchers, Nifty tried to break above the previous high of 23,807 but could not sustain above it.

“The hourly high of 23,869 will be an important swing high in the near term. Closing above 23,869 can push Nifty higher to 24,220. Overall trend shall remain bullish as Nifty trading above 40HEMA 23,323,” said Vikram Kasat, Head-Advisory, PL Capital.

Meanwhile, In the Sensex pack, PowerGrid, Bajaj Finserv, M&M, Bajaj Finance, Bharti Airtel, IndusInd Bank, Tata Motors and ICICI Bank were the top gainers. Whereas, Zomato, UltraTech Cement, Titan, Maruti Suzuki, Asian Paints, Kotak Mahindra Bank and Hindustan Unilever Limited were the top losers.

In the last trading session, Dow Jones in the US added 0.01 per cent to close at 42,587.50. The S&P 500 climbed 0.16 per cent to 5,776.65 and the Nasdaq added 0.46 per cent to close at 18,271.86.

According to experts, US investors shrugged off the latest bad news on consumer confidence maybe instead taking their cues from Federal Reserve officials who have said they’re not worried yet.

Consumers were already due for a cooldown in early 2025 after a steamy end to last year, but these figures raise the risk of a more significant pause in outlays, they added.

In the Asian markets, Hong Kong, China, Japan, Seoul, Jakarta and Bangkok were trading in green.

Regarding the institutional activity, foreign Institutional Investors (FIIs) purchased equities worth Rs 5,371.57 crore on March 25, while domestic institutional investors (DIIs) sold equities worth Rs 2,768.87 crore on the same day.

–IANS