The flat movement returned to Indian stock markets on Thursday after both benchmark indices recorded gains in the previous session.
Investors remained cautious as markets awaited updates on a potential U.S.-India trade deal and the outcome of the Bihar Assembly elections, with counting scheduled for Friday.
At the opening bell, the Nifty 50 was trading at 25,880.30, up 4.50 points or 0.02 per cent, while the BSE Sensex stood at 84,468.59, gaining just 2.08 points.
Market experts said sentiment remains driven by expectations of positive developments, adding that a favourable trade deal outcome could trigger an upward move in the indices.
In the broader market, all major indices were trading in the green. The Nifty 100 rose 0.03 per cent, the Nifty Midcap 100 gained 0.19 per cent, and the Nifty Smallcap 100 added 0.18 per cent.
Among sectoral indices on the NSE, most were trading higher except Nifty Auto, Nifty FMCG, and Nifty IT, which were marginally lower. Nifty Pharma rose 0.23 per cent, Nifty PSU Bank gained 0.07 per cent, and Nifty Media advanced 0.29 per cent.
Anand James, Chief Market Strategist at Geojit Investments, said, “The doji formed yesterday after entering our target region of 25,850–25,980 hints at indecision, warranting caution. However, oscillators remain accommodative towards a larger rise, aiming 26,130–26,550. The day’s upside momentum could, however, be challenged should early dips fail to hold above 25,840, but we will wait for a fall below 25,630 to switch sides.”
In the primary market, the IPO of edtech company Physics Wallah closes for subscription today. The firm, known for its test preparation courses, saw its public issue subscribed 0.13 times by day two. Bids were led by retail investors at 0.58 times, followed by non-institutional investors at 0.06 times, while qualified institutional buyers were yet to participate. The price band is set between ₹103 and ₹109 per share, with a lot size of 137 shares.
On the commodities front, gold extended its gains for another session.
Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said, “Gold traded positive for another session, gaining ₹500 to close near ₹1,24,450, supported by Comex gold holding firm around USD 4,100. Optimism over a potential U.S. government reopening is driving sentiment, as it would allow the release of key economic data critical for the Federal Reserve’s December rate outlook. With CPI data due in both the U.S. and India this week, volatility in gold prices is expected to remain high. The broader trading range for gold is seen between ₹1,22,500 and ₹1,26,000.”
–ANI