Indian Stock Markets Open Flat Amid Monthly and Quarterly Expiry

Indian stock markets opened flat on Wednesday with the Nifty 50 and BSE Sensex indices dipping marginally. Experts attributed the trend to the upcoming monthly and quarterly expiry, predicting continued volatility. Attention now shifts to upcoming US economic data and the RBI's monetary policy decision.

Indian stock markets opened flat on Wednesday, reflecting investor caution as the monthly and quarterly expiry dates approach. Despite this, experts noted that markets remain in bull mode. The Nifty 50 index opened at 25,899.45 points, dipping by 40.95 points or 0.16%, while the BSE Sensex index declined by 77 points to 84,836.45 points, down by 0.09%.

'Given the monthly/quarterly expiry on Thursday, we expect volatile, flat markets in India as the September series ends with markets near or at all-time highs,' said Ajay Bagga, Banking and Market Expert. 'The next catalyst for markets will be the US PCE data on Friday and the September US jobs report on October 4th. Post that, the RBI MPC decision on Oct 9th will be key for the Indian markets' trajectory. For now, we remain fully invested and counsel regular investment at every dip as we see a decade-long bull market in India ahead.'

Sectoral indices on the National Stock Exchange showed varied performances, with the Nifty metal index leading gains at 0.84% at the opening session, while Nifty Bank, Nifty Auto, and Nifty IT opened with marginal dips. In the Nifty 50 list, 23 stocks advanced while 18 declined. 'The gush of domestic liquidity, which is the main driving force behind the rally in India, is likely to keep the market resilient,' said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. 'To decisively surpass and sustain above 26000, it has to be led by the Bank Nifty. There's more steam in this segment.'

Asian markets saw mixed results on Wednesday. Japan's Nikkei index rose marginally by 0.07%, while Hong Kong's Hang Seng rallied by 2.03% and Taiwan's index surged by 1.30%. South Korea's markets remained flat. Chinese monetary stimulus measures helped lift Chinese and Hong Kong markets, leading to increased investor interest in these regions.

(With inputs from agencies.)