Indian Stock Market Sees Mixed Start Amid Global Cues: Key Indicators to Watch

The Indian stock market opened with mixed signals as Sensex and Nifty showed minor variations. Influenced by global economic factors and domestic data, the market sentiment is uncertain. Key market players and analysts provide insights into potential market movements and the impact of international economic tensions.

The Indian stock market kicked off Thursday on a note of uncertainty, marked by the Sensex increasing by 70.75 points to 74,100.51, while the Nifty saw a slight dip, starting 2.00 points lower at 22,468.50. Investors appeared divided as they assessed a blend of global and domestic economic signals. Among the Nifty constituents, 18 stocks made gains, 31 saw declines, and one remained static. ONGC, BEL, Tata Steel, IndusInd Bank, and Power Grid stood out as top gainers, whereas Sriram Finance, M&M, Bajaj Auto, Eicher Motors, and Adani Ports led the list of early session losers.

Banking and market expert Ajay Bagga attributed the market's fluctuations largely to international influences. He commented, 'The US CPI figures came in lower than anticipated, offering a minor boost to US stock markets, despite their overall 3 percent drop this week. There's a tension between oversold US markets witnessing a technical lift and cautious investors retracting from risk-heavy assets. Ongoing Trump Tariffs, coupled with retaliations from Canada, China, and the EU on certain US exports, suggest that the trade war risk could escalate into more substantial conflict.' Bagga noted, 'Domestically, India's CPI reduction, fueled by decreasing food prices, alongside an unexpectedly high Index of Industrial Production, underscores a range-bound market. With a long weekend looming, positions in India might be trimmed by the afternoon. Yet, foreign brokerage optimism hints at opportunities for modest, regular investments, potentially reaching a market bottom in the new financial year.'

Meanwhile, domestic updates show an easing in Indian inflation and an upbeat IIP. Akshay Chinchalkar, Axis Securities' Head of Research, observed that despite recovering from an intraday dip, the Nifty failed to close in the green, still creating a daily candle with a prominent lower shadow. This indicates a strong downside demand, emphasizing the crucial support range of 22245 - 22330. Resistance remains at 22677, the high from Monday's shooting star, extending to between 22720 - 22798. Bulls retain a slight edge as market dynamics evolve. Investors will continue monitoring global events and domestic economic indicators closely to determine future market trends. (ANI)

(With inputs from agencies.)