Mixed Opens for Indian Stock Markets Amid Global Cues

Indian stock markets experienced a mixed opening with the Nifty 50 slightly up and the BSE Sensex in the red. Despite geopolitical tensions and volatile oil prices, retail interest persisted, especially in midcaps and smallcaps. Global cues showed strength as Asian markets surged and US futures rose.

On Monday, India's domestic stock markets commenced with a mixed opening, with the Nifty 50 index seeing a minor rise, but the BSE Sensex slipping into the negative. The Nifty 50 began at 26,333.70, marking a slight gain of 5.15 points or 0.02%. Conversely, the BSE Sensex fell by 121.96 points or 0.14%, starting the day at 85,640.05.

Selective buying activity was observed across different sectors, though benchmark indices showed no definitive trend initially. The Indian markets had hit record highs on Friday, buoyed by foreign portfolio investors turning net buyers, according to market expert Ajay Bagga. He noted that, despite geopolitical tensions such as the Venezuela crisis, the positive outlook for Indian markets continues, aided by a strong rally in Asian shares and promising Indian Gift Nifty futures.

Broader market indices on the NSE reflected strength, with the Nifty Midcap 100 and Nifty Smallcap 100 outperforming. Sector performances were mixed, with major gains in Nifty Media and Nifty PSU Bank, while Nifty IT faced downward pressure. Participants are closely monitoring upcoming US economic data that could influence further market moves amid volatile oil prices.

Globally, markets displayed resilience, with Asian markets like Japan's Nikkei 225 and South Korea's KOSPI seeing significant gains by over 2%, and US stock futures indicated a stronger opening. This global uptrend suggests a gradual return to underlying fundamentals, even as traders account for geopolitical uncertainties.

(With inputs from agencies.)