MUMBAI– Indian equity markets opened nearly flat on Monday amid mixed global cues, as investors remained cautious while awaiting positive developments on a potential interim trade agreement between India and the United States.
As of 9:20 a.m., the BSE Sensex was down 50 points, or 0.05%, at 81,714, while the NSE Nifty slipped 17 points, or 0.07%, to 24,951.
Minor selling pressure was also visible in broader market segments. The Nifty Midcap 100 dropped 87 points, or 0.15%, to 59,017, while the Nifty Smallcap 100 declined 65 points, or 0.36%, to 18,892.
Analysts say the most critical near-term factor influencing investor sentiment will be the outcome of the India–U.S. trade talks.
“A favorable interim trade deal—especially one involving tariffs below 20% on Indian goods—would be a clear positive for the market,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the sectoral front, most indices were trading lower. Auto, IT, PSU banks, pharma, FMCG, media, energy, infrastructure, consumption, and public sector enterprises (PSEs) were under pressure. Meanwhile, financial services, metal, and realty sectors were showing modest gains.
Among the Sensex constituents, notable losers included Axis Bank, Reliance, Infosys, HCL Tech, Tech Mahindra, TCS, Sun Pharma, Titan, M&M, Hindustan Unilever, Asian Paints, NTPC, Tata Motors, and Bharat Electronics Ltd (BEL). Major gainers included Tata Steel, HDFC Bank, ICICI Bank, Eternal, UltraTech Cement, Bajaj Finance, and Trent.
Across Asia, most markets were trading in the green. Gains were seen in Shanghai, Hong Kong, Seoul, Bangkok, and Jakarta, while Tokyo was in negative territory. U.S. markets ended mixed on the previous trading day, with the Dow Jones Industrial Average down 0.32% and the Nasdaq Composite up 0.05%.
On the institutional side, foreign institutional investors (FIIs) turned net buyers on July 18, recording purchases worth ₹374.74 crore. Domestic institutional investors (DIIs) continued their buying streak for the tenth consecutive session, with net purchases totaling ₹2,103.51 crore.
Given the current environment of elevated market volatility and uncertain global signals, traders are advised to adopt a cautious “sell-on-rise” strategy—particularly when using leverage—according to Mandar Bhojane of Choice Equity Broking Pvt. Ltd. (Source: IANS)
