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Stock Market Today: Indian benchmark indices opened on a weak note Thursday, tracking mixed cues from Asian peers and cautious global sentiment after the US Federal Reserve’s latest policy move.

At 9:30 am, the BSE Sensex was trading at 84,756.19, down 240.94 points or 0.28 per cent, while the NSE Nifty50 fell 86.30 points or 0.33 per cent to 25,967.

Overnight, the US Federal Reserve cut its benchmark interest rate by 25 basis points to a range of 3.75–4.00 per cent. However, Fed Chair Jerome Powell’s remark that a December rate cut was “far from a foregone conclusion” weighed on Wall Street, dampening early optimism.

From the Sensex constituents, Bharti Airtel, Sun Pharma, ITC, Tata Steel, and PowerGrid were the top laggards. On the other hand, L&T, Tata Motors PV, TCS, Adani Ports, and Ultratech Cement were the top gainers.

Among the sectoral indices, the Nifty Pharma index was the top loser, followed by Metal, FMCG, Bank, and Oil & Gas indices. The Nifty Realty index gained 0.5 per cent.

In the broader markets, the Nifty Midcap 100 index traded flat with a negative bias, while the Nifty Smallcap 100 index was marginally higher.

According to Anil Singhvi, Managing Editor of Zee Business, foreign institutional investors (FIIs) continued to sell despite a strong market backdrop, surprising many traders. He noted that domestic funds showed strong buying momentum and traders returned with fresh positions as the new derivatives series began.

“FII selling data has put pressure on GIFT Nifty today. However, such a setup could create trading opportunities on both sides,” Singhvi said.

Singhvi added that today’s weak opening could offer a buying opportunity. “Investors can accumulate in two parts near key support levels. Both Nifty and Bank Nifty are technically strong. As long as key levels hold, the strategy should remain ‘Buy on Dips’,” he said.

Nifty: Strong support in the 25,700–25,900 zone

Bank Nifty: Support around 57,500–57,700

Intraday weakness will be confirmed only if Nifty trades below 25,925 or Bank Nifty slips below 58,000, Singhvi added.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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