Sensex Gains Amid Cautious Investor Sentiment

Indian stock market opened positively but investor caution persists due to global and domestic issues. Sensex rose by 366 points, while Nifty gained 87 points. Top gainers include Wipro and TCS, with concerns over Trump's policies affecting market dynamics. Indian markets face challenges from FPI outflows and slow growth.

The Indian stock market saw a positive start on Wednesday, as the Sensex increased by 366.08 points to reach 76,204.44, and the Nifty climbed 87.60 points, opening at 23,109.50. Despite these gains, investor sentiment remains cautious due to ongoing global and domestic concerns.

Wipro, Infosys, Sun Pharma, TCS, and ITC emerged as the top gainers, whereas BEL, Tata Motors, Power Grid, Adani Enterprises, and HDFC Life were among the major losers. Market expert Ajay Bagga highlighted the impact of global policies, noting the mixed effects of Trump's pro-business stance against potential risks from protectionist measures.

Bagga stated that while Trump's policies might initially appear beneficial, they could harm global supply chains and drive inflation. In India, issues such as the structural slowdown highlighted by major brokerages and persistent foreign portfolio investment outflows challenge market recovery.

Akshay Chinchalkar from Axis Securities added a technical outlook, pointing to prevailing bearish sentiment. He warned that the Nifty's struggle to stay above the 23000 mark indicates emboldened bears, with immediate resistance at 23324 and targets around 22830.

The market sentiment remains wary, with eyes on upcoming policies like the Union Budget 2025 which might influence Indian market movements. Continuing foreign portfolio investment outflows and global economic uncertainties contribute to this cautious outlook.

(With inputs from agencies.)