Share Market Updates: Markets stumble after flat opening today

The ups and downs in the stock market continue, investors are currently adopting a cautious stance. Both global and domestic factors are creating pressure.

New Delhi: On Thursday morning, the Sensex opened with a gain of 119.05 points at 82,753.53, while the Nifty also looked strong, up to 25,230.75. However, later the sell-off gripped the market; the Sensex fell 71.51 points to 82,554.47, and the Nifty was down 30.30 points to 25,182.55, reports Dynamite News correspondent.

Domestic investors are still restrained, while the market remains under pressure due to the withdrawal of foreign funds. In the closed market on Wednesday, the Sensex closed with a marginal gain of 63.57 points (0.08%) at 82,634.48, while the Nifty jumped 16.25 points (0.06%) to close at 25,212.05.

The expectation of possible positive news in the US-India trade talks is boosting enthusiasm to some extent, but the impact is limited so far.

Who benefits, and who loses?

Rising stocks: Sun Pharma, Tata Motors, Kotak Mahindra Bank, Trent, NTPC, and Bharat Electronics were in profit.

Lagging stocks: Many big stocks, including ICICI Bank, SBI, and Asian Paints, remained weak.

On Wednesday, FIIs sold shares worth Rs 1,858 crore, leading to a wave of selling.

Glimpse of the global scenario

In Asian markets, Japan, Shanghai, and Hong Kong were trading in the green, while Korea was weak. US markets closed with gains on Wednesday, but the poll created uncertainty over the responsibility of the FRB chair, which affected the global mood. Oil prices for Brent crude rose to $68.92 per barrel, which could have a positive impact on Indian fuel stocks and the banking sector.

Banking sector condition

The Nifty Bank index continued to decline, trading down 0.17%. PSU stocks like SBI and HDFC Bank were showing some strength, but ICICI, Canara, PNB, etc. were pulling back the leadership. A mixed pattern of initial rally followed by selling was seen.

Foreign investor withdrawal and global uncertainty, especially interest rates and trade talks with the US, are having a direct impact on the market. At present, investors are cautious and can take a bullish stance only after getting a green signal.

Investors pay attention

The Federal Reserve's decision, fluctuations in the dollar, and progress in the U.S.-India trade talks can boost the market. Q1 corporate earnings (like SBI, Wipro, and Axis Bank) can also guide the trend in the next few days.