Indian stock market opens flat, market recovers after early fall, Sensex jumps over 200 points

Mumbai (The Uttam Hindu): The Indian stock market opened on a flat note on Tuesday amid mixed global cues and ahead of the expected India–European Union Free Trade Agreement announcement. The 30-share BSE Sensex opened 100.91 points lower at 81,436.79, while the Nifty began marginally higher by 14.70 points at 25,063.35. However, selling pressure increased shortly after the opening.

At around 9:25 am, the Sensex was trading down by 401.18 points, or 0.49 percent, at 81,136.52. Meanwhile, the Nifty slipped 103.40 points, or 0.41 percent, to 24,945.25. Most Nifty indices were trading in the red at that time. In the broader market, the Nifty Smallcap 100 declined by 0.26 percent, while the Nifty Midcap 100 fell by 0.13 percent.

Sector-wise, Nifty Metal emerged as the top gainer with a rise of over 1 percent. On the other hand, Nifty Auto was the worst-performing sector, falling by nearly 1.5 percent.

From the Sensex pack, Axis Bank, Adani Ports, UltraTech Cement, BEL, NTPC, and Tata Steel were among the top gainers. Meanwhile, Kotak Mahindra Bank, Mahindra & Mahindra, Maruti Suzuki, ICICI Bank, HDFC Bank, and Bajaj Finance were among the major losers.

However, the market soon changed direction and moved into positive territory. By around 9:47 am, the Sensex gained more than 200 points, while the Nifty rose over 100 points.

Choice Broking technical research analyst Akash Shah said that a recovery is expected in the Indian stock market on Tuesday after the Republic Day holiday. In the previous trading session, key indices continued to decline, with the Nifty 50 slipping close to the crucial 25,000 level, while the Sensex also witnessed sharp losses. Selling pressure was seen across the board, particularly in banking, energy, and select consumer stocks.

He added that technically, the Nifty is trading below its short-term moving average, indicating weakness. The 25,200–25,300 range is now seen as immediate resistance, and if the index moves towards this zone, fresh selling pressure may emerge. On the downside, 25,000 remains a crucial support level. A break below this could lead to further decline towards 24,950–24,900. However, mild relief rallies may be seen in some stocks due to oversold conditions.

Shah further noted that foreign institutional investors (FIIs) have been continuously selling in the market. In the cash segment, FIIs sold shares worth around ₹4,113 crore, while domestic institutional investors (DIIs) bought shares worth nearly ₹4,102 crore. This provided some support to the market, though it could not fully offset FII selling.

Overall, the market opening may remain mildly positive or stable, but investors and traders are expected to stay cautious. Focus will remain on company earnings, with priority given to risk management. Investors may also wait for stability near key support levels before making major investment decisions.