Stock Market: Indian stock market opened flat amid weak global signals, selling in IT stocks

Mumbai, June 23. The Indian stock market started flat on Tuesday amid weak global cues. Sensex opened with a slight weakness of 8.02 points at 77,086.05 and Nifty opened with a fall of 31.60 points at 24,071.30. In the initial session, there was mixed trading in midcap and smallcap. The Nifty Midcap 100 index was at 62,715 with a marginal weakness of 13 points and the Nifty Smallcap 100 index was at 18,915 with a marginal gain of 12 points. Among the indices, Nifty Media, Nifty Pharma, Nifty Healthcare, Nifty India Defence, Nifty Realty, Nifty Energy, Nifty PSE and Nifty Infra were in the green.

On the other hand, Nifty IT, Nifty Metal, Nifty Commodities, Nifty FMCG, Nifty Services, Nifty Private Bank, Nifty India Manufacturing were in the red. Trent, Adani Ports, Sun Pharma, Eternal, Sun Pharma, ICICI Bank, L&T, Power Grid, Bajaj Finserv, NTPC, IndiGo, Axis Bank, BEL and Bharti Airtel were among the gainers in the Sensex pack. Whereas, Infosys, TCS, HCL Tech, Tata Steel, Tech Mahindra, HUL, Asian Paints, Kotak Mahindra Bank, HDFC Bank, Maruti Suzuki, ITC, M&M and Bajaj Finance were losers. A decline is being seen in most of the Asian markets.

Tokyo, Shanghai, Hong Kong, Bangkok, Seoul and Jakarta were in the red. US stock markets closed mixed on Monday, with the Dow Jones up 0.29 per cent and the Nasdaq down 1.32 per cent. The reason for the decline in global markets is the fall in stocks related to AI theme and attacks on Lebanon by Israel. However, on the ongoing talks with Iran in Switzerland, US Vice President JD Vance said that there has been progress in peace talks between the two countries. A decline is being seen in crude oil. Till the time of writing the news, WTI crude was at $ 73.66 an ounce with a weakness of 0.24 percent and Brent crude was at $ 77.25 an ounce with a weakness of 0.34 percent.