The Indian equity markets started the week with minimal change on Monday, influenced by a subdued earnings season and AI-related pressure on technology shares. The Sensex dropped by 22 points, or 0.02%, reaching 83,604, while the Nifty fell by 6 points, or 0.03%, to 25,464 by 9:25 am. Notably, the Nifty Midcap 100 decreased by 0.34%, and the Nifty Smallcap 100 by 0.47%.
Sectoral indices displayed mixed trends, with Nifty IT declining by 0.55% and media by 0.84%, while Nifty pharma rose by 0.93% and realty by 0.55%.
Immediate support for Nifty is seen at the 25,300-25,350 range, with resistance at 26,600-26,650, as per market analysts. Bank Nifty remains relatively strong above the psychological level of 60,000, with a crucial support zone at 60,000–59,700, a key level for maintaining a bullish market structure, according to market participants.
The markets are expected to be sensitive to global cues following a recent correction driven by tech stock weakness, reversing some optimism from the US–India trade framework and reflecting a broader risk-off sentiment.
Foreign institutional investors (FIIs) have shown mixed and cautious participation lately, reevaluating high valuations, while steady domestic institutional investor (DII) inflows provide some local support. Market sentiment is fragile in the short term, likely leading to a consolidation phase until clearer global signals emerge, analysts noted.
Investors are keeping a close eye on global triggers such as the US Fed minutes, PCE inflation data, and PMI releases for market direction.
In Asian markets, China’s Shanghai index fell by 1.26%, Shenzhen by 1.28%, Japan’s Nikkei rose by 0.12%, and Hong Kong’s Hang Seng Index increased by 0.38%. South Korea’s Kospi declined by 0.28%.
US markets closed mostly positive in the last session, with the Nasdaq slightly down by 0.22%, the S&P 500 up by 0.05%, and the Dow Jones gaining 0.1%.
