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Markets Open Flat as Investors Await Global Data and Earnings Cues

Markets

Business Honor
15 May, 2025

Sensex, Nifty inch up; Bank Nifty dips amid cautious global market signals.

The Indian stock market started cautiously on Thursday, May 15, as the investors grappled with opposing global signals. The BSE Sensex started modestly higher, climbing 23.87 points to 81,354.43. Similarly, the NSE Nifty 50 climbed 27.55 points to open at 24,694.45.The cautious opening of the market comes as investors look to key economic indicators from the UK, Japan, and the US.

Though the key indices opened with slight gains, the Bank Nifty declined 0.25% from the previous session's close of 54,801.30. The mid-cap and small-cap indexes, however, continued their bull run, up more than 1%, due to buying interest in metal, IT, realty, and oil & gas space.

Market analysts are optimistic on Nifty's future. As per Nandish Shah of HDFC Securities, the Nifty is still trading above significant support levels. He found that there was resistance between 24,850 and 24,975, while there was strong support at 24,500 and 24,378. Between 54,000 and 54,500 is the crucial support range for the Bank Nifty.

Siddhartha Khemka of Motilal Oswal Financial Services believes that Indian markets could maintain their upward momentum, supported by easing global tensions, improving trade deals, and strong domestic data. Investors are also eyeing the quarterly numbers of stocks such as LIC Housing Finance, Kaynes Technology, and Cochin Shipyard.

In stock recommendations, analysts suggest buying Tourism Finance Corporation, VA Tech Wabag, and Graphite India on the basis of their strong technical trends. Authum Investment and Manorama Industries also feature in view of their bullish breakouts and increasing trading volumes.

During the trading day, market action is likely to rely on global cues as well as domestic earnings reports.