Indian Equity Market Opens Flat With Mixed Sectoral Performance

The Indian equity market opened on a flat note with BSE Sensex and Nifty showing slight gains. Mixed sectoral performance was observed with several sectors in red. Key stocks experienced varied results, and international markets also showed a mixed trend.

The Indian equity market on Tuesday opened on a flat note, with Benchmark indices BSE Sensex opening at 82,652.69, up by 92.85 points, and Nifty at 25,313.40, up by 34.70 points. During early trading hours, stocks of Sun Pharma, ITC, Hindalco, Hindustan Unilever, and Shriram Finance were among the top gainers, while Bajaj Finance, Infosys, Bajaj Auto, Bharat Petroleum Corporation Ltd, and Titan were the top losers.

At the National Stock Exchange (NSE), sector-wise performance showed Banks, Auto, Financial Services, IT, Media, PSU, and Private Banks opening in the red territory. In contrast, FMCG, Metal, Pharma, Realty, Healthcare, and Consumer Durables stocks opened in the green. According to Varun Aggarwal, MD of Profit Idea, the current market pattern suggests a gradual upward momentum within a narrow range. Despite recent gains in the Nifty, the overall market breadth remains weak, raising concerns. The short-term trend for the Nifty 50 remains positive but faces resistance around the 25,350 level.

Following the cabinet's approval for the procurement of 240 aero-engines for Su-30 MKI aircraft valued at Rs 26,000 crore, Hindustan Aeronautics' stock surged by over 3 percent in the opening hour of trading. Foreign institutional investors (FIIs) purchased shares worth Rs 1,735.46 crore, while domestic institutional investors (DIIs) acquired shares worth Rs 356.37 crore on September 2, 2024, as per provisional NSE data.

In the Asia-Pacific region, markets displayed mixed results on Tuesday morning. The Asia Dow rose by 0.48 percent, Japan's Nikkei 225 gained 0.67 percent, and South Korea's KOSPI increased by 0.12 percent. Conversely, China's Shanghai Composite index slightly declined by 0.01 percent.

(With inputs from agencies.)