Opening Performance

On Tuesday, the Indian equity benchmark indices, BSE Sensex and Nifty50, opened flat in trade. While the BSE Sensex hovered around the 81,500 levels, the Nifty50 managed to stay above 24,600. By 9:17 AM, the BSE Sensex was trading at 81,495.18, down 13 points or 0.016%, and the Nifty50 was at 24,614.90, down 4 points or 0.017%.

Market Analysts' Views

LKP Securities' Senior Technical Analyst Rupak De observed a sideways trading pattern, attributing it to traders' cautious stance. He anticipates this trend to continue due to the week's lack of significant events. "Technically, Nifty has initial support around 24,470. A break below this level could trigger a correction of 200-250 points. On the higher end, the 24,700-24,750 zone is expected to act as a resistance," De noted.

Angel One's Technical Analyst Rajesh Bhosale highlighted Nifty's strong recovery from 23,263, with recent small body candles suggesting market consolidation. Meanwhile, US indices declined, with Nvidia's drop affecting tech stocks. Asian markets showed mixed performance, with Chinese stimulus hopes boosting sentiment. The Hang Seng futures rose 3.4%, whilst Japan's Topix increased 0.4%.

Foreign Investment Trends

Foreign Institutional Investors (FIIs) purchased shares worth Rs 724.27 crore, whilst Domestic Institutional Investors (DIIs) sold Rs 1,648.07 crore worth of shares.