Mixed Opening for Indian Stock Markets Amid Global Pressures

India's stock markets opened with a mixed response, while global markets faced downturns following Nvidia's quarterly results. Major indices such as Nifty 50 and Sensex saw minor fluctuations. Sectors like IT and semiconductor stocks faced selling pressure, impacting trends across Asia and the U.S.

India's stock markets opened almost flat today, reflecting a mixed response from major indices Nifty and Sensex. The Nifty 50 index experienced a slight decline of 17 points, or 0.07%, settling at 25,035.30 points. Conversely, the Sensex saw a minor gain of 35 points, or 0.05%, reaching 81,822.56 points.

Globally, stock markets are under pressure following Nvidia's latest quarterly results, which, despite being positive, disappointed some investors. 'The guidance from Nvidia has disappointed market segments in Asia, causing a decline in AI and semiconductor stocks. MSCI Asia dropped 0.5%, and Nvidia fell 8% in U.S. after-market trading,' explained Ajay Bagga, Banking and Market Expert.

In India, foreign institutional investors posted a net cash outflow in the market on Wednesday. 'Expect the market to consolidate as it attempts to break out from its all-time high levels. The IT sector might see some profit booking due to Nvidia's guidance,' Bagga added. Sectoral indices such as Nifty Bank, Nifty Auto, Nifty IT, and Nifty FMCG traded in the red, while Nifty Financial Services, Nifty Pharma, and Nifty Media saw gains.

The broader market indices witnessed minor gains. Nifty Next 50 and Nifty Small Cap 100 opened 0.6% higher. Top gainers in the Nifty 50 included Cipla, Apollo Hospital, and Sun Pharma.

Across Asian stock markets, Japan's Nikkei index fell by 0.45%, and Hong Kong's Hang Seng index declined by 0.55%. The Taiwan Weighted Index notably dropped 1.32%, marking it the largest loser among major Asian markets. The fall followed a downturn in U.S. markets on Wednesday, where the S&P 500 and Nasdaq experienced a slump, driven by investor profit-taking after Nvidia's results.

(With inputs from agencies.)