Indian Indices Open Flat Amid Global Cues

• The Indian equity indices, Nifty50 and Sensex, opened in the green on Thursday.
• Analysts predicted a range-bound market, with domestic themes dominating amid geopolitical caution.
• FPIs were net sellers, while DIIs were net buyers in the market on Wednesday.

GG News Bureau
Mumbai, 14th Aug: The Indian equity benchmark indices, Nifty50 and BSE Sensex, opened in the green on Thursday but traded within a narrow range throughout the day as investors remained in a “wait and watch” mode. The market’s cautious sentiment was influenced by geopolitical factors and upcoming domestic events.

At the market close, the NSE Nifty 50 ended 0.54% higher at 24,614.35 and the BSE Sensex closed 0.38% up at 80,539.91, snapping a two-day losing streak on Wednesday.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that the market is awaiting clues from the upcoming Trump-Putin summit and Prime Minister Modi’s Independence Day message. He added that the market is technically oversold, and a positive trigger could lead to a rally driven by short-covering.

The day’s trading reflected a “liquidity-driven short-term aberration,” with fundamentally strong banking stocks drifting down while mid and small-caps with elevated valuations continued to show resilience. Dr. Vijayakumar advised long-term investors to exploit this “value discrepancy” by shifting to high-quality large-caps.

In global markets, US equity indices edged higher on Wednesday, with the S&P 500, Dow Jones, and Nasdaq all closing at record highs, fueled by expectations of lower interest rates. Conversely, Asian stocks traded within a narrow range at Thursday’s open after a three-day rally, while oil prices saw a recovery after an earlier decline.

Foreign portfolio investors (FPIs) were net sellers on Wednesday, offloading shares worth ₹3,644 crore, while domestic institutional investors (DIIs) were net buyers, purchasing shares worth ₹5,624 crore.