Indian benchmark indices opened marginally higher on Wednesday but traded largely flat despite positive global cues.
Sensex: Opened at 83,553 (+102 pts | +0.12%)
Nifty 50: Opened at 25,752 (+27 pts | +0.11%)
Bank Nifty: 61,255 (+0.13%)
Markets are showing selective buying rather than broad-based momentum.
Metals, PSU Banks, Realty & Energy: In demand
IT Stocks: Under selling pressure
While banks and metal stocks provided support, IT heavyweights dragged the indices, keeping gains capped.
Asian markets traded higher, with the Nikkei up nearly 1%
US markets closed with mild gains, led by tech and financial stocks
Easing geopolitical tensions between the US and Iran boosted risk appetite
Infosys, Bharti Airtel, Eternal, Dabur India, BHEL, Bosch, Hexaware Technologies, and Dilip Buildcon are among key stocks in action today.
MCX Gold: ₹1,53,303 (+1.24%)
MCX Silver: ₹2,32,929 (+1.81%)
Precious metals gained amid short-covering and global bullion strength, though international gold prices remained largely flat.
The market is currently in consolidation mode. Strength in metals and PSU banks is balancing weakness in IT, resulting in a flat trend.
Will Nifty reclaim strong upward momentum, or will IT weakness drag the indices lower?