Dalal Street saw another muted open in trade on Thursday, September 25, after equity benchmarks Nifty 50 and Sensex kicked off the session on a tepid note, weighed down by global cues and transitory headwinds.
At 09:25 a.m., the Sensex was up 86.00 points or 0.11 percent at 81,801.63, and the Nifty was up 32.60 points or 0.13 percent at 25,089.50. About 1749 shares advanced, 1120 shares declined, and 159 shares unchanged.
The sectoral pack traded mixed, with defensive plays such as pharma and FMCG trading with gains of around 0.3 percent, while selling was seen in the auto and realty packs. On the broader markets front, the Nifty Smallcap 100 and Nifty Midcap 100 were trading with gains of up to half a percent, outperforming the frontline peers.
In the absence of immediate triggers the market has been slowly drifting down. Auto stocks have been bullish, partly discounting the potential earnings growth of the industry. The significant drag on the market throughout this year has been the sustained selling by FIIs, noted experts.
"The reforms being implemented in India along with the low interest rate regime have the potential to push economic growth and corporate earnings growth higher. This should bring FIIs back to the Indian market. But we don’t know when this will happen in a sustained basis. This is the right time for investors to continue accumulating high quality stocks. Patience is the key," suggested VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
On the technical front, the Nifty continues to face sustained selling pressure, with each support level being tested. The key psychological mark now is 25,000 — a decisive break below this could drag the index further toward 24,950–24,850. On the upside, stability above 25,000 may trigger a rebound toward 25,150-25,250, though sentiment remains fragile, noted Ponmudi R, CEO of Enrich Money.
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Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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