Sensex, Nifty trade nearly flat; IT index down 0.5 pc
Mumbai; The Indian equity markets opened the week almost flat with a mild negative bias on Monday, due to a weaker-than-expected earnings season and AI-led pressure on technology stocks. As of 9.25 am, Sensex lost 22 points, or 0.02 per cent, to reach 83,604, and Nifty lost 6 points, or 0.03 per cent, at 25,464.
Main broad-cap indices posted stronger losses than benchmark indices, as the Nifty Midcap 100 declined 0.34 per cent, and the Nifty Smallcap 100 dipped 0.47 per cent. Sectoral indices traded mixed. Most notable losers were Nifty IT, down 0.55 per cent, and media, down 0.84 per cent. Nifty pharma gained 0.93 per cent, while realty edged up 0.55 per cent.
Immediate support for Nifty is placed at 25,300-25,350 zone, while resistance is anchored at 26,600-26,650 zone, market watchers said. Bank Nifty continues to demonstrate relative resilience, holding firmly above the key psychological 60,000 level. The crucial support base lies in the 60,000–59,700 zone, which coincides with the 20-day EMA and remains a critical level for maintaining bullish structure, market participants said.
Domestic markets are likely to remain increasingly sensitive to global cues following last week’s sharp correction, driven by weakness in technology stocks. Persistent concerns around AI-driven disruption, reverse part of the optimism earlier sparked by the US–India interim trade framework and reinforcing a broader risk-off undertone.
FII participation has turned mixed and cautious in recent sessions, as investors reassessed elevated valuations. Steady DII inflows, however, offer a degree of domestic support, they added. In the near term, sentiment remains fragile, with markets likely to trade in a consolidation phase until clearer direction emerges from global macro signals, they said.
