Is the Sensex and Nifty Struggling to Gain Momentum?
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Synopsis
The Indian stock market faced early losses but managed to recover slightly with the Nifty and Sensex trading flat. Realty stocks showed positive trends while IT stocks lagged behind. Key support and resistance levels have been identified, along with insights into ongoing global trade negotiations affecting market sentiment.
Key Takeaways
- Mumbai stock market remains flat after early losses.
- Nifty shows mixed performance with realty stocks gaining.
- Support and resistance levels identified for Nifty.
- Trade deal uncertainty between India and U.S. affects market sentiment.
- FIIs continue to sell equities, impacting overall market dynamics.
Mumbai, July 29 (NationPress) The Indian stock market is currently flat following early losses on Tuesday, influenced by mixed global cues.
As of 9:29 AM, the Sensex showed little change, gaining just 1.69 points to stand at 80,892 points. Meanwhile, Nifty increased by 16 points, or 0.06 percent, reaching 24,696. Initially, both indices opened lower with Nifty hovering around 24,600.
“Post the negative opening, Nifty may find support at 24,600, followed by 24,500 and 24,300. On the upside, 24,800 could act as immediate resistance, with 24,900 and 25,000 following,” stated Hardik Matalia from Choice Equity Broking.
A sustained move above 25,000 is essential for any significant pause in the ongoing selling pressure. As long as the index remains below this level, the short-term outlook appears weak, suggesting a ‘sell-on-rise’ strategy, he added.
During the opening trading session, Nifty realty stocks were leading, while Nifty IT experienced a decline of 0.32 percent. Nifty Bank concluded almost flat, decreasing by 0.01 percent.
Within the Nifty pack, the top gainers included JSW Steel, Jio Financial, IndusInd Bank, Reliance Industries, and Shriram Finance.
Conversely, Eternal saw a drop of 1.64 percent, alongside declines in Infosys, SBI Life Insurance, Wipro, and Bharat Electronics.
Analysts noted that a significant concern for the markets is the absence of the anticipated trade deal between India and the US. The likelihood of finalizing a deal before the August 1 deadline seems to be diminishing.
In US markets, the Dow Jones dipped by 0.14 percent, while the Nasdaq gained 0.33 percent. The S&P 500 ended nearly unchanged, with a slight increase of 0.02 percent.
Across Asia, sentiment remained generally subdued as investors awaited developments from the ongoing U.S.-China trade talks. Japan’s Nikkei 225 fell by 0.91 percent, and Hong Kong’s Hang Seng Index decreased by 0.93 percent.
However, South Korea’s Kospi rose by 0.59 percent, while China’s markets were nearly flat in the morning session.
Foreign Institutional Investors (FIIs) continued their selling streak for the sixth consecutive day, indicating ongoing pressure on overall market sentiment. Yesterday, FIIs sold equities worth Rs 6,082 crore, whereas Domestic Institutional Investors (DIIs) purchased equities amounting to Rs 6,764 crore.
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Point of View
It's crucial to maintain a clear perspective on the stock market's movements. The current flat trading environment reflects a blend of local and international factors, particularly the anticipated trade deal between India and the U.S. Market participants should remain cautious while exploring potential opportunities.
NationPress
30/07/2025
Frequently Asked Questions
What is the current status of the Indian stock market?
The Indian stock market is currently trading flat after experiencing early losses, with the Sensex and Nifty showing minimal changes amid mixed global cues.
Which sectors are performing well in the market?
The Nifty realty sector is leading the market gains, while the Nifty IT sector has seen a slight decline.
What are the support and resistance levels for Nifty?
Nifty may find support at 24,600, followed by 24,500 and 24,300. Immediate resistance is noted at 24,800, with further resistance at 24,900 and 25,000.
What is affecting market sentiment currently?
The lack of a finalized trade deal between India and the U.S. is weighing heavily on market sentiment, particularly as the August 1 deadline approaches.
How are Foreign Institutional Investors (FIIs) impacting the market?
FIIs have been selling equities consistently, contributing to selling pressure on the broader market, while Domestic Institutional Investors (DIIs) are actively buying.
