Mumbai (Maharashtra) [India], September 11 (ANI): Indian stock markets opened nearly flat on Thursday with a marginal decline within the opening session.
However, buyers remained assured concerning the market outlook, supported by optimistic developments between India and the US, in addition to the upcoming GST 2.0 rollout.
The Nifty 50 index opened at 24,945.50, slipping by 27.60 factors or 0.11 per cent, whereas the BSE Sensex began the day at 81,217.30, down by 207.85 factors or 0.26 per cent.
Market skilled Ajay Bagga stated Indian markets proceed to indicate upward momentum, with IT shares lastly beginning to take part.
‘Exchange of conciliatory and complimentary messages on social media between President Trump and Prime Minister Modi helped raise market sentiment on hopes of a commerce deal,’ he instructed ANI.
He additional added that futures had been mildly optimistic within the morning and highlighted the elements driving home markets.
‘The GST 2.0 enhance that ought to set in from September 22 onwards and Fitch elevating Indian development forecast for FY2026 to six.9 per cent are driving markets with home consumption, durables, auto shares in focus. Financials are additionally attempting to recuperate. We count on continued optimistic sentiment within the markets regardless of the worldwide geopolitical dangers rising with Russian drones getting into Poland and Israel launching an air strike on Qatar,’ Bagga famous.
In the broader market indices on NSE, the Nifty 100 index was down by 0.08 per cent, whereas the Nifty Midcap 100 gained 0.16 per cent and the Nifty Smallcap 100 rose by 0.24 per cent.
Among sectoral indices, Nifty Auto was up by 0.13 per cent, Nifty IT superior by 0.23 per cent, Nifty FMCG was marginally decrease by 0.02 per cent, and Nifty PSU Bank climbed by 0.25 per cent.
Global cues additionally added power to investor sentiment. In the US, the S&P 500 and Nasdaq closed at contemporary information, whereas the Dow was muted resulting from Apple’s underperformance.
Vikram Kasat,Head Advisory, PL Capital stated ‘In US an sudden slowdown in wholesale inflation and Oracle’s large AI shock helped the S&P 500 clinch one other document Wednesday. On the hourly chart, Nifty index has damaged the short-term resistance line with a spot, which is an effective signal for the bulls. On the way in which down, the reversal stage could be trailed to a better hourly low i.e. 24750’.
Asian markets adopted the robust US shut, with Japan’s Nikkei 225 index surging greater than 1 per cent, Taiwan’s weighted index gaining 1.11 per cent, and South Korea’s KOSPI up 0.39 per cent. However, Hong Kong’s Hang Seng index slipped 0.4 per cent in early commerce.
US Producer Price knowledge for August, displaying deflationary traits, has boosted hopes of an rate of interest reduce, whereas buyers await right this moment’s Consumer Price Inflation quantity for additional cues.
Overall, whereas Indian indices opened flat, optimism stays excessive with supportive home reforms, development forecasts, and enhancing international cues maintaining investor sentiment buoyant. (ANI)