Stock Market Today: Sensex, Nifty Slip Into The Red Zone After Flat Start
Indian benchmark indices Sensex and Nifty opened on a cautious note on Thursday, mirroring steady global cues after the US Federal Reserve kept interest rates unchanged for the third straight time. Despite the lackluster start, broader market strength provided support, with midcap and smallcap stocks leading the gains.
At 10 am, the Sensex slipped 56.60 points, or 0.07 percent, to 80,690.18, while the Nifty fell 30.05 points, or 0.12 percent, to 24,384.35. Market breadth remained positive, with 2,207 stocks advancing, 715 declining, and 124 remaining unchanged.
Sectorial Update
India VIX, the market's volatility indicator, often called the "fear gauge," declined by 2 per cent in early trade, pointing to reduced market anxiety. Among sectors, defensive plays like pharma and FMCG lagged, each down around 0.4 per cent. In contrast, indices such as Nifty IT, Nifty Auto, and Bank Nifty posted modest gains.
Expert Comment
Prashanth Tapse, Senior VP (Research), Mehta Equities, noted, “As Asian equities are trading in the green mirroring overnight gains in the US markets, domestic equity indices too could see a steady positive start in the backdrop of the ongoing Indo-Pak tensions. However, the street will react to Jerome Powell's statement on higher tariffs post Fed's decisions to keep interest rates unchanged.”
Tapse added, “The street will now hope for some fruitful trade discussions between the US and China when they meet this weekend. Technically, Nifty’s biggest support is seen only at 24171 mark.”
Global Markets
US stocks closed higher on Wednesday amid choppy trading, led by gains in semiconductor shares after reports of eased AI chip regulations. Market volatility persisted following the Federal Reserve’s widely expected move to keep interest rates unchanged.
In Asia, equities traded within a narrow range as investors digested the Fed's policy stance and remained cautious ahead of key US-China trade talks.
On the institutional front, foreign portfolio investors (FPIs) were net buyers, picking up shares worth ₹2,585 crore on Wednesday, while domestic institutional investors (DIIs) offloaded shares worth Rs 2,378 crore net.
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