The Indian stock market started the mid-week session on a tepid note Wednesday, weighed down by soft global cues. Sensex fell 167.99 points (0.20%) to 82,012.48, and Nifty eased 24.35 points (0.10%) to 25,208.15 as of 9:22 AM.
Nifty’s landscape was mostly bearish, with midcaps (-0.36%) and smallcaps (-0.47%) lagging.
Pharma shone with 0.8% rise, supported by Metal (0.3%), Auto (0.2%), FMCG (0.16%). Realty (-0.7%) and private banks (-0.3%) faced selling.
Sensex underperformers: ICICI Bank, BEL, HCL Tech, Trent, Infosys, L&T, TCS. Standouts: Eternal, Indigo, Sun Pharma, Powergrid, UltraTech Cement, Tech Mahindra, Tata Steel, HUL, Adani Ports.
Post yesterday’s plunge, skittish investors grapple with volatility, lacking robust nearby supports.
Technical outlook: Nifty resists 25,350-25,400; sub-level trading caps gains. 25,050-25,100 support key; breach eyes 24,800-24,900.
Persistent FII selling pressures markets, offset somewhat by DII buying. Elevated India VIX points to choppiness.
Traders, brace for swings – prioritize risk management and await confirmation at supports. Investors should bide time for clearer trends.