Stock market today: Sensex, Nifty 50 open flat amid mixed global cues, cautious investor mood; Bajaj twins top losers

Stock market today: Tracking mixed global cues and cautious investor sentiment amid the tensions with Pakistan, the Indian stock market kicked off Wednesday's trade on a flat note. Weakness in index heavyweights – Bajaj Finance and Bajaj Finserv – following the Q4 results announcement, also weighed on the indices today.

In the opening trade, the Nifty 50 was trading 55 points or 0.22 per cent lower at 24,281.30, while the BSE Sensex was down 163.47 points or 0.20 per cent, at 80,124.91.

In the Nifty 50 pack of stocks, Dr Reddy's Labs, L&T, Cipla, Tata Consumer, and TCS were among the major gainers. On the other hand, Bajaj Finserv, Bajaj Finance, Trent, Tata Motors and SBI were the top losers in the early morning session today.

In the opening hour of the trade, about 828 shares were seen advancing, about 1224 shares declined, and 137 stocks remained unchanged.

Experts say that technically, the Sensex is encountering stiff resistance around 80,500, forming a small bearish candle near this level, indicating indecision among market participants.

Trading strategy for Indian stock market

“The surprising resilience of the market is significant. After the reciprocal tariff tantrums and the heightened tensions between India and Pakistan, Nifty is up 5% in April. This underscores the importance of not panicking during a crisis. It is important to remain invested,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

The crucial support to the market is coming from the sustained FII inflows, which have touched a cumulative figure of ₹37325 crore in the last 10 trading sessions, said Vijaykumar, adding that the weakness of the dollar and India’s economic resilience are supporting the FIIs' India trade. 

He, however, advised investors to exercise caution. “Since markets have rewarded patience and many stocks have appreciated handsomely, investors can do partial profit booking and increase the cash component in their portfolio. This strategy should be as a measure of abundant caution. There are unknown unknowns in the market now,” he said.

(With inputs from ANI)

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