Indian equity indices opened Friday’s trading session on a muted note. The NSE Nifty 50 opened flat at 25,853. The BSE Sensex opened 60 points or 0.07% lower at 84,345.
The Bank Nifty opened 32 points or 0.05% lower at 57,999. However, the small and midcap stocks opened the day with a positive bias. The Nifty Midcap rose 55 points or 0.09% to open at 60,152.
“The Trump-Xi summit delivered only a one-year truce in the US-China trade war, not a breakthrough trade deal. To that extent, market participants were disappointed at the outcome, even though there is relief in the declining trade tensions and possible movement towards further progress,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
“The rally in the Indian market has been running out of steam as it approaches the record high of 26,277 set in September 2024. Renewed selling by FIIs is likely to be a drag on the market in the near term. The increasing short positions being created by FIIs indicate that they view Indian valuations as relatively higher, particularly seen in the light of earnings growth. This view will change only when leading indicators suggest a sustained recovery in earnings,” added Vijayakumar.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Bharat Electronics, Apollo Hospitals, Coal India, Kotak Mahindra Bank, and Axis Bank. On the flip side, the key laggards in the Nifty 50 pack included Cipla, Shriram Finance, NTPC, Jio Financial Services, and Bharti Airtel.
Major movers on Thursday
The stocks that were the major movers in the opening trade included Reliance Industries, HDFC Bank, Maruti Suzuki, Larsen & Toubro, and TCS, which were the major movers in the morning trade.