Indian Stock Market Opens in Green; Nifty Trades Above 25,800

Mumbai (The Uttam Hindu): The Indian benchmark indices opened in the green on Wednesday. Early trade witnessed buying in Nifty Auto, IT, FMCG, and Metal sectors. At 9:30 AM, the Sensex was trading at 84,869.59, up 203.31 points or 0.24%. The Nifty was at 25,897.20, rising 57.55 points or 0.22%.

Nifty Bank climbed 98.85 points or 0.17% to 59,321.20. The Nifty Midcap 100 gained 123.75 points or 0.21% to trade at 59,799.95, while the Nifty Smallcap 100 inched up 13.35 points or 0.08% to 17,259.15.

Market experts said the structure is becoming challenging as the year nears its end. Heavy selling is visible in the broader market due to high valuations that were supported mainly by liquidity. They noted that such levels are not sustainable. Continuous selling by FIIs and overall market weakness are also adding pressure.

They further added that delays in finalising the India-US trade deal remain a major concern. Sentiments were impacted after US President Trump commented that India should face action for “dumping rice” in the US. However, India’s fundamentals remain strong and high growth along with better corporate earnings is expected in the upcoming quarter.

Among the Sensex gainers were M&M, Tata Steel, Trent, Adani Ports, TMPV, HCL Tech and UltraTech Cement. Bajaj Finance, Bharti Airtel, Titan, Eternal and Sun Pharma were among the top losers. In Asian markets, Bangkok, Jakarta, and Seoul were trading in the green, while Japan, China, and Hong Kong were in the red.

US markets closed mixed in their previous session. The Dow Jones fell 179.03 points or 0.38% to 47,560.29. The S&P 500 slipped 6 points or 0.09% to 6,840.51, while the Nasdaq gained 30.58 points or 0.13% to close at 23,576.49.

On December 9, Foreign Institutional Investors (FIIs) were net sellers, offloading Indian shares worth ₹3,760.08 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹6,224.89 crore.