Markets opened marginally higher on Wednesday, attempting a recovery after sharp losses in the previous session, as benchmark indices traded in a narrow range amid mixed global cues and persistent foreign institutional investor outflows. The BSE , which closed at ₹84,679.86 on Tuesday, opened at ₹84,856.26 and was trading at ₹84,685.74, up 5.88 points or 0.01 per cent at 9.55 a.m. The NSE , which closed at 25,860.10, opened at 25,902.40 and was trading at 25,868.55, up 8.45 points or 0.03 per cent.
“Global markets continue to trade with caution amid lingering uncertainty over the US interest-rate trajectory,” said Ponmudi R, CEO of Enrich Money, a SEBI registered online trading and wealth tech firm. “Mixed signals from the latest US job data and flat retail sales growth have kept risk appetite subdued.”
Market sentiment remained fragile despite stable domestic fundamentals, weighed down by continued FII selling and weakness. “On the domestic front, persistent FII selling and continued weakness in the rupee remain key near-term headwinds, compounded by delays in the conclusion of India–US trade negotiations,” Ponmudi added. “However, steady domestic inflows through SIPs and insurance channels continue to provide a strong structural buffer, helping to limit downside risks.”
Among the top gainers on the Nifty 50, led with gains of 1.38 per cent, trading at ₹860.10. rose 1.33 per cent to ₹973.95, while gained 1.25 per cent to ₹7,149.50. advanced 1.10 per cent to ₹846.40, and Tata Motors Passenger Vehicles gained 0.96 per cent to ₹348.75.
On the losing side, declined 1.46 per cent to ₹1,346.00, emerging as the top loser. fell 0.80 per cent to ₹758.20, lost 0.77 per cent to ₹1,064.70, declined 0.72 per cent to ₹4,079.30, and fell 0.60 per cent to ₹8,954.00.
Technical analysts pointed to key support and resistance levels for the indices. “Nifty’s short-term trend has shifted from neutral to mildly bearish after the index slipped below the 20-day EMA at 25,950, which is now acting as an immediate resistance,” Ponmudi noted. “The focus is now on the 25,700–25,800 support band, which has emerged as a strong demand zone in recent sessions.”
Shrikant Chouhan, Head Equity Research at Kotak Securities, highlighted the previous day’s correction. “Benchmark indices corrected sharply. Nifty closed 167 points lower, while Sensex was down 522 points,” he said. “Sectorally, almost all major sectoral indices witnessed intraday profit booking at higher levels, but the Realty index fell the most, losing 1.50 per cent.”
Aakash Shah, Technical Research Analyst at Choice Broking, maintained a cautious outlook. “Indian equity markets are expected to open Wednesday’s session on a cautious and subdued note, tracking mixed global cues and continued pressure from foreign institutional selling,” he said. “Persistent FII outflows, weakness in the Indian rupee against the US dollar, and muted global risk appetite are likely to keep sentiments fragile despite stable domestic fundamentals.”
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, offered a longer-term perspective. “Recent sharp fall in the rupee and crude has been attracting the attention of investors,” he said. “Decline in crude, on poor demand from China and the US, is good news for India’s macros, which are already in a Goldilocks setting. However, sustained fall in the rupee is accelerating FII outflows, thereby hurting the market.”