Sensex flat as IT drags; metals lift early trading
Sensex flat as IT drags; metals lift early trading
Indian stocks open flat with Sensex near 83,463 and Nifty around 25,728, as IT weakness is offset by gains in metals and select counters.
Indian equities opened with a quiet note on Wednesday, with the Sensex hovering near the flatline at 83,463.70, up 12.74 points (0.02%). The index had opened at 83,553.59, while the previous close was 83,450.96. The Nifty 50 inched up to 25,728.65, a gain of 3.25 points (0.01%), and traded in a narrow band between 25,705 and 25,760 in the early minutes. Gains in metal and select financials provided the initial support, led by Bharat Electronics climbing over 1% on defense counters. Tata Steel and ITC were among the gainers, with others like Bajaj Finance, State Bank of India, UltraTech Cement and Axis Bank posting modest advances of up to 0.5%. The metal space saw selective traction, with Hindalco and JSW Steel among the top movers on the Nifty heatmap, aided by firm global commodity cues and sector momentum. On the downside, the IT pack remained under pressure. Infosys slipped over 1%, while Tech Mahindra and HCLTech fell up to 1.3%, limiting gains for the headline indices. TCS and Wipro traded in the red as well. Adani Ports slipped more than 1%, marking it as a laggard among the blue chips. We also saw weakness in Maruti Suzuki and HDFC Bank, tempering any broad upside. Analysts have floated higher targets, such as 29,000 for Nifty by December 2026, citing the positive earnings trend and ongoing sector rotations. In the near term, market watchers will monitor global cues and commodity prices for renewed direction.
