Indian benchmark indices posted mild losses on Thursday amid profit booking, rising geopolitical tensions and muted sentiment in Asian markets.
As of 9.23 a.m., the Sensex slipped 108 points, or 0.13 per cent, to 84,852, while the Nifty eased 46 points, or 0.18 per cent, to 26,094.
The broader indices moved largely in line with the benchmarks, with the Nifty Midcap 100 down 0.32 per cent and the Nifty Smallcap 100 losing 0.14 per cent.
Bharat Electronics and SBI Life Insurance were among the major gainers in the Nifty pack. Except for Nifty Realty and Nifty Consumer Durables, all sectoral indices were trading in the red. Nifty Metal led the losses, slipping 1.27 per cent.
Market watchers said immediate support lies in the 26,000–26,050 zone, while resistance is placed in the 26,250–26,300 zone.
Despite short-term softness, analysts said the broader positional trend remains bullish, supported by a pattern of higher tops and higher bottoms on the daily charts.
Asia-Pacific markets traded mixed in the morning session, tracking Wall Street losses amid comments from US President Donald Trump that fuelled geopolitical tensions.
In Asian markets, China’s Shanghai index added 0.09 per cent, while Shenzhen slipped 0.2 per cent. Japan’s Nikkei declined 0.96 per cent, Hong Kong’s Hang Seng Index dipped 1.26 per cent, and South Korea’s Kospi advanced 0.64 per cent.
US markets were mostly in the red overnight, even as the Nasdaq added 0.16 per cent. The S&P 500 dipped 0.34 per cent, while the Dow Jones Industrial Average fell 0.94 per cent.
ADP’s December employment data showed 41,000 jobs were added, slightly missing expectations. Economists had expected private-sector employment to rise by 47,000 jobs, compared with the 32,000-job loss originally reported for the previous month.
On January 5, foreign institutional investors (FIIs) sold net equities worth Rs 1,528 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 2,889 crore.
–IANS
