Indian equity indices opened Thursday’s trading session on a subdued note. The NSE Nifty 50 opened flat at 25,872. The BSE Sensex opened 10 points or 0.01% lower at 84,456.
The Bank Nifty opened 74 points or 0.13% lower at 58,200. Similarly, the small and mid-cap stocks traded muted. The Nifty Midcap opened flat at 60,910.
“The market needs more triggers to take it to new record highs. With the outcome of the Bihar polls largely discounted by the market, there are no political triggers that can push the market significantly higher. The reverse might happen if the actual poll results turn out to be different from the exit polls,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
“The important economic factors that have to be watched for is a possible India-US trade deal removing the penal tariffs and reducing the reciprocal tariffs. The decline in October retail inflation in India to 0.25% indicates the possibility of a rate cut from the MPC in December. But the monetary policy transmission turning weak has become a challenge for the RBI,” 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 Asian Paints, Tata Steel, Hindalco, Bharti Airtel, and IndiGo. On the flip side, the key laggards in the Nifty 50 pack included Tata Motors CV, ONGC, BEL, Eternal (Zomato), and Grasim Industries.
