The Indian stock market opened positively, with the Sensex and Nifty gaining despite mixed global cues. Midcap and smallcap indices also rose.
The Indian stock market began Monday’s (November 17) session with a mild upward push, even as global cues remained mixed. The Sensex opened 137 points higher at 84,700.50, while the Nifty held strong above 25,900, starting the day at 25,948.20. The positive open comes a day after both indices closed slightly lower.
Broader Indices Join the Uptrend
Midcap and smallcap stocks also reflected early optimism. The BSE Midcap index edged up by nearly 139 points, while the Smallcap index showed stronger momentum with a jump of over 273 points. Market breadth was positive, with more than 1,400 Nifty stocks trading in the green.
Gift Nifty Signals Positive Momentum
The tone for the session was set early, as Gift Nifty hinted at a firm start by rising 38.5 points to 26,000.50 in early trade.
FIIs Sell, DIIs Step In
Foreign Institutional Investors continued their selling streak for the fifth consecutive day on November 14, offloading nearly Rs 5,000 crore worth of equities. On the other hand, Domestic Institutional Investors cushioned the impact by pumping in over Rs 8,400 crore.
Mixed Sentiment Across Asian Markets
Asian markets offered no clear direction. Japan’s Nikkei and Hong Kong’s Hang Seng slipped in early trade, while South Korea’s Kospi moved higher. China’s SSE Composite also remained under pressure with modest losses.
Sectoral Indices Struggle Despite Positive Start
Despite the upbeat opening, most Nifty sectoral indices were trading in the red. Metals stood out as the only sector showing gains at 0.26 per cent. IT, Realty, and Pharma stocks dragged, while FMCG names managed to hold slightly in the positive territory.