Synopsis
On March 12, the Indian stock market opened steady, with the Sensex and Nifty showing slight gains. Bharti Airtel emerged as a key gainer, while experts advised caution amidst global market uncertainty and volatility.Key Takeaways
- Indian stock indices opened steady, with Bharti Airtel leading gains.
- Market analysts suggest support levels for Nifty at 22,400, 22,300, and 22,200.
- Traders advised to exercise caution and use strict stop-loss strategies.
- Global markets are facing uncertainty due to tariff policy issues.
- FIIs continued selling, while DIIs remained active buyers.
Mumbai, March 12 (NationPress) The Indian equity benchmark indices opened steady on Wednesday amid mixed global signals, with early trading showing buying activity in the auto and PSU Bank sectors.
At approximately 9:28 am, the Sensex recorded a rise of 22.30 points or 0.03 percent, reaching 74,080.02, while the Nifty saw an increase of 24.65 points or 0.11 percent, sitting at 22,473.25.
The Nifty Bank index gained 231.40 points or 0.48 percent, hitting 47,867.05. The Nifty Midcap 100 index was at 48,904.40, up by 141.65 points or 0.29 percent. The Nifty Smallcap 100 index reached 15,128.75, gaining 52.85 points or 0.35 percent.
Market analysts suggest that after this steady opening, the Nifty may find support levels at 22,400, followed by 22,300 and 22,200. On the upside, 22,600 is viewed as immediate resistance, with further levels at 22,700 and 22,800.
“Considering the ongoing volatility, traders should proceed with caution, apply strict stop-loss measures, and avoid holding overnight positions,” stated Hardik Matalia from Choice Broking.
Within the Sensex constituents, Bharti Airtel, Tata Motors, HDFC Bank, Zomato, PowerGrid, Sun Pharma, and Kotak Mahindra Bank emerged as the top gainers. Conversely, IndusInd Bank, Infosys, HCLTech, and TCS were among the leading losers.
Market experts emphasize two key aspects to consider regarding the near-term trend in stock markets.
Globally, markets are exhibiting weakness and uncertainty due to concerns stemming from tariff policy inconsistencies. This situation is expected to persist and could worsen as reciprocal tariffs come into effect starting early April. In this context, there is limited potential for a solid recovery in global markets. In fact, a further downward trend is anticipated, they noted.
During the previous trading session, the Dow Jones fell 1.14 percent, closing at 41,433.48. The S&P 500 decreased by 0.76 percent to 5,572.07, while the Nasdaq dipped 0.18 percent to conclude at 17,436.10.
In Asian markets, Japan, Seoul, and Jakarta were trading positively. In contrast, Bangkok, China, and Hong Kong were in the negative.
Foreign institutional investors (FIIs) continued their selling trend on March 11, offloading equities valued at Rs 2,823.76 crore. Meanwhile, domestic institutional investors (DIIs) maintained their buying spree, purchasing equities worth Rs 2,001.79 crore on the same day.
