Stock Market Today: BSE Sensex Starts Flat; Nifty50 Below 23,500
Indian Equity Indices Begin Trade Flat
On Thursday, the Indian equity benchmark indices, BSE Sensex and Nifty50, started flat in trade. The BSE Sensex was close to 77,300, while the Nifty50 was below 23,500. At 9:19 AM, the BSE Sensex was trading at 77,321.64, up 33 points or 0.043%. The Nifty50 was at 23,488.90, up 2 points or 0.0087%.
Market Cautious Ahead of US Reciprocal Tariffs
Indian equity markets turned negative on Wednesday as investors took profits while waiting for details on upcoming US reciprocal tariffs scheduled for April 2. “We expect the market to remain range-bound with stock/sector specific action due to developments around the US India trade meet this week,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal.
Institutional Activity Indicates Caution
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, “The market has become cautious as the reciprocal tariff day approaches. Institutional activity shows that while FIIs are not overly concerned about tariffs, DIIs are being cautious. During the last five trading days, FIIs bought equity for Rs 21376 crores while DIIs sold equity for Rs 9704 crores. Despite net institutional buying yesterday, the market drifted down, indicating concern and fear.”
Domestic Consumption Themes Remain Robust
The strength of domestic consumption themes like financials, telecom, aviation, and hotels indicates that the market is preparing for a scenario where tariffs may impact export-oriented segments. However, Trump’s latest decision to impose a 25% duty on all car imports to the US will affect Tata Motors, which exports a significant number of JLR cars to the US.
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Foreign Portfolio Investors Buy Net Shares Worth Rs 2,240 Crore
Foreign portfolio investors bought net shares worth Rs 2,240 crore on Wednesday. Domestic institutional investors sold shares valued at Rs 696 crore. The net short position of Foreign Institutional Investors decreased from Rs 90,604 crore on Tuesday to Rs 83,733 crore on Wednesday.
