CHENNAI: Indian equity markets opened on a cautious note today, with the Nifty 50 trading below the 24,900 mark and the Sensex declining by over 100 points. The BSE Midcap and Smallcap indices remained largely flat, indicating a mixed sentiment across broader market segments.
Nifty 50 opened at 24,925.50, down 21 points or 0.08%, while Sensex opened at 81,715.65, down 80.50 points or 0.10%.
Sectoral performance was varied, with the Nifty PSU Bank index gaining 0.10%, while the Nifty Pharma index declined by 0.63%.
Stocks that gained in today's opening trade were NTPC (up 0.63% at ₹335.80) Axis Bank, Kotak Mahindra Bank, SBI, and ICICI Bank: Among the major gainers on the Nifty, reflecting positive investor sentiment in the banking sector. While the losers included ONGC (down 1.67% at ₹252.49), Sun Pharma, Tata Motors, Titan Company, Trent, and Bajaj Finance.
Stocks in focus
The following stocks are in focus due to respective corporate developments.
Vishal Mega Mart: Shares fell 7% following a block deal involving 13.7 million shares, indicating significant institutional activity.
Axiscades Technologies: Shares surged nearly 10% to a record high after announcing a strategic alliance with Indra, a Spanish defense company, to collaborate on defense technology innovation.
Godrej Properties: Acquired a 16-acre land parcel in Upper Kharadi, Pune, for developing premium housing and retail spaces, with an estimated revenue potential of Rs 3,100 crore.
Sterlite Technologies: Extended gains for the second consecutive day after launching new-generation data center solutions aimed at AI-driven infrastructure.
Disclaimer: This report is for informational purposes only. Investors are advised to conduct their own research or consult reliable sources before making any investment decisions.