Indian Markets Maintain Momentum Amid Global Fluctuations
Indian stock markets opened flat yet continued to climb due to positive December sentiments and foreign investments. Despite geopolitical pressures, key indices saw gains, driven by strong FII participation. Sector indices mostly opened green, with BEL leading gains. Global and domestic cues remain influential.

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On Wednesday, Indian markets showed resilience by opening flat and subsequently climbing, mirroring the global market trends. The Nifty 50 index on the National Stock Exchange began at 24,475.50 points, marking an increase of 18.35 points or 0.08 percent, while the BSE Sensex registered a gain of 65.96 points or 0.08 percent, opening at 80,911.71 points.
Market experts anticipate a positive trajectory for December, buoyed by an uptick in foreign investor participation. However, ongoing geopolitical developments are still exerting short-term pressure. Ajay Bagga, a Banking and Market Expert, noted the Indian market's strong performance over the past three sessions, alongside positive foreign portfolio investment (FPI) flows. Despite global tensions, notably in Korea, with the imposition and subsequent lifting of martial law, the potential for a 'Santa Claus rally' in December has investors looking to buy dips rather than sell on rises.
On the NSE, aside from Nifty Media and Nifty Pharma, all sectoral indices opened in green. In the Nifty 50 list, 33 stocks advanced, with BEL emerging as the top gainer, followed by HDFC Life, SBI Life, and NTPC. Akshay Chinchalkar, Head of Research at Axis Securities, highlighted the significance of a head-and-shoulders pattern that suggests challenges at the 24,600 - 24,800 zone, aiming eventually for 25,500. The index's recent gains have increased bullish sentiment, especially as the percentage of NSE500 stocks above their 200-day moving average rose to 59 percent, nearing a critical 64 percent threshold.
Domestic markets remain upbeat after three days of consecutive gains, supported by favorable global cues and improved sentiment among Foreign Institutional Investors (FIIs), who recorded net buying of Rs 3,664.67 crore recently. Conversely, Domestic Institutional Investors (DIIs) saw net selling of Rs 250.99 crore. In the Asian markets, South Korea's KOSPI index dropped by 1.83 percent due to the imposition of martial law, while Japan's Nikkei 225 dipped slightly by 0.18 percent. Meanwhile, Hong Kong's Hang Seng and Taiwan's Weighted index saw marginal gains of 0.15 percent and 0.54 percent, respectively. (ANI)
(With inputs from agencies.)