Markets Open Lower, but Midcaps Shine Amid Global Uncertainty

Mumbai, July 16  – Indian stock markets opened lower on Wednesday, tracking mixed global cues. At 9:26 am, the Sensex fell 141 points to 82,429, and Nifty dropped 57 points to 25,138.

Despite the dip, midcap and smallcap indices posted small gains, showing some resilience. Nifty Midcap 100 rose 23 points, and Smallcap 100 gained 15 points.

Dr. VK Vijayakumar of Geojit said markets have stayed range-bound and need a major positive trigger, like a potential India-US trade deal, to break out. However, he cautioned that a lasting rally depends on strong earnings.

Sector-wise, IT, PSU banks, FMCG, realty, and media were among the gainers, while auto, pharma, financials, and energy sectors saw losses. Stocks like Adani Ports, Infosys, and HDFC Bank led the gainers, while Tata Motors, TCS, and Bajaj Finance declined.

Nifty bounced back after touching the 25,000 support level, suggesting bullish momentum. Experts say traders should watch if Nifty holds above 25,250 for new long positions.

Globally, markets were mixed, with Tokyo and Hong Kong up, but Shanghai and Seoul down. In the U.S., the Dow Jones fell nearly 1% on Monday.

On the investment front, foreign investors turned buyers after two days, purchasing ₹120 crore, while domestic investors continued their buying streak with ₹1,555 crore in inflows.