What’s Happening with Nifty and Sensex Opening Flat?

Synopsis
Key Takeaways
- Flat opening of Nifty and Sensex amidst mixed global cues.
- BSE Sensex up by 0.10% to 80,684 points.
- Nifty 50 increased to 24,612, a gain of 0.11%.
- Positive movement in Nifty IT and Nifty Metal sectors.
- Investors should monitor US-India trade developments.
Mumbai, Aug 12 (NationPress) The Indian benchmark indices opened flat on Tuesday amidst mixed global cues following the overnight extension of the US-China trade truce for another 90 days.
The BSE Sensex increased by 0.10 percent, or 80 points, reaching 80,684 points. The Nifty 50 also saw a slight rise, climbing to 24,612, marking a 0.11 percent gain.
Broader market indices experienced buying momentum, with the BSE SmallCap rising by 0.39 percent and the BSE MidCap up by 0.06 percent.
Sector-wise, Nifty IT recorded a gain of 0.79 percent while Nifty Metal advanced by 0.60 percent. Most other indices showed a mix of modest gains and losses between 0.10 and 0.40 percent.
Within the Nifty pack, Hero MotoCorp led the gains, followed by Tata Steel and TCS. On the downside, Dr. Reddy’s Laboratories led the decliners with a 0.91 percent drop, and was followed by ICICI Bank, HDFC Bank, Grasim, and Bajaj Finance.
Amruta Shinde from Choice Broking noted, "Technically, a decisive move above 24,650 could open the door for an upward shift towards 24,850, with immediate support at 24,500 and 24,330—both are viewed as attractive zones for new long positions."
In the Asia-Pacific region, markets largely traded in the green, as the overnight extension of the US-China trade truce enhanced investor confidence. The truce has been extended until November 10, having previously faced threats of hefty tariffs from both sides.
Investors are keenly observing ongoing developments regarding the US-India trade deal, quarterly earnings releases, tariff discussions, and upcoming inflation figures for further insights.
In the US markets, Dow Jones fell by 0.45 percent, S&P 500 declined by 0.25 percent, and Nasdaq Composite dropped by 0.30 percent.
Meanwhile, Asian markets showed positive trends, with Japan's Nikkei reaching a record high, surging 2.46 percent. China's Shanghai Composite increased by 0.41 percent, while Shenzhen Composite rose by 0.19 percent. The Hang Seng Index remained flat, and Kospi added 0.40 percent.
On Monday, foreign institutional investors (FIIs) divested approximately Rs 1,200 crore in equities, whereas domestic institutional investors (DIIs) were net buyers of Rs 5,972 crore worth of stocks.