The Indian equity markets opened flat with a positive bias on Thursday, with IT stocks recovering following gains on Wall Street. By 9:25 am, the Sensex rose by 58 points to 82,334, and the Nifty increased by 15 points to 25,498. Notably, the Nifty Midcap 100 saw a rise of 0.22%, while the Nifty Smallcap 100 experienced a slight decline of 0.08%.
Sectoral indices displayed mixed trends, with Nifty PSU bank and IT sectors leading the gains by 1.13% and 1.01%, respectively. Conversely, Nifty FMCG and realty sectors witnessed losses of 0.27% and 0.46%, respectively. Analysts anticipate that the positive momentum in the US and European markets, coupled with reduced volatility and consistent domestic institutional investments, will likely stabilize the equity market in the near term.
Market experts highlighted that Nifty is expected to trade within a broader consolidation band, with immediate support at the 25,250 level and resistance at 25,650. Similarly, Bank Nifty is likely to find support around 60,700–60,800 levels, with resistance near 61,300–61,400. In Asian markets, China’s Shanghai index dipped by 0.08%, while Shenzhen gained 0.28%. Japan’s Nikkei rose by 0.31%, Hong Kong’s Hang Seng Index fell by 0.43%, and South Korea’s Kospi surged by 2.21%.
The US markets closed positively, with Nasdaq climbing by 1.26%, the S&P 500 by 0.81%, and the Dow Jones by 0.63%. On February 25, foreign institutional investors (FIIs) sold equities worth Rs 2,991 crore, while domestic institutional investors (DIIs) bought equities worth Rs 5,119 crore. FIIs reduced their long positions by 1,314 contracts and short positions by 2,904 contracts, maintaining a net bullish position of 1,590 contracts.
