Indian Share Market Opens Flat Amid Cautious Sentiment

Mumbai, December 17 (TNA) Indian equity benchmarks opened on a muted note on Wednesday, tracking GIFT Nifty futures at 25,937-down just 3 points-reflecting investor caution after Tuesday’s sharp decline, with Sensex closing at 84,679.86 (down 533.50 points) and Nifty at 25,860.10 (down 167.20 points) amid persistent FII outflows and a weakening rupee breaching 91 per dollar.

Pre-open sessions signalled a lacklustre start, influenced by mixed global cues, including lower Asia-Pacific markets and Wall Street’s tepid close, as traders awaited UK and Euro Area inflation data alongside domestic volatility.

Sectoral pressures lingered from the prior session, with Nifty Realty, Private Banks, IT, and Metals dragging indices lower, while Media and Consumer Durables showed marginal resilience; experts like Siddhartha Khemka of Motilal Oswal forecast continued consolidation for Nifty in the 25,700-26,300 range, with key support at 25,700-25,800 and resistance at 26,000-26,050.

Bank Nifty formed a bearish pattern, eyeing support at 58,200-58,600 and potential upside above 59,500 towards 60,100, as FIIs net sold ₹2,060.76 crore worth of shares yesterday against DII purchases of ₹770.76 crore.

Broader markets mirrored the weakness, with Nifty Midcap100 and Smallcap100 down 0.8% each in the previous close, underscoring broad-based selling amid global trade uncertainties and US jobs data digestion; IPO activity remained robust, with KSH International in its second day and SME offerings like Global Ocean Logistics opening today. Analysts anticipate selective sectoral moves absent major triggers, urging vigilance on rupee trends and Fed signals for directional cues.