Stock Market Today Opening: Nifty, Sensex Start on Flat Note; Zomato, HDFC, IndusInd, NCC, Airtel Most Active

Stock Market Today Opening: The Indian stock market opened on a flat note on Wednesday, a day after the benchmark indices closed, paring the recovery made in last five trading sessions.

Gift Nifty had indicated a positive start of the benchmark indices. Nifty 50 opened 0.13% higher at 23,700 points. Whereas S&P BSE Sensex was higher at at 78,066.47 points.

All the heavyweights including Reliance, HDFC Bank were stable during the pre-opening session. Additionally, all the sectoral indices were trading in green including Nifty Bank, Nifty IT, Nifty Fin Services, etc.

The opening of Nifty and Sensex was in synchronisation with gains in Asian markets, as investors remained confident after the United States President hinted at relaxation in the upcoming US tariffs.
The Nifty and BSE Sensex registered their best weekly gains during the week, ended on March 21, after four years. Both the benchmark indices have increased around 5.7 per cent over the past seven sessions in the backdrop of increased foreign institutional investors (FII) buying and weakening of gold rates.

Stocks in focus today

IndusInd Bank, Bajaj Finserve, Zomato, Swiggy, and Bharti Airtel were among the most active stocks on Sensex during the opening trade. However, Zomato and Swiggy shares declined later after Bank of America downgraded its outlook on the same and cut price targets.

Ashok Leyland

The company stock traded in green on Wednesday, trading ahead of the crucial board meeting scheduled for later in the day. The company has also announced that it has scheduled an analyst call in the evening.

Zomato and Swiggy share price today

Zomato and Swiggy shares opened Wednesday's session on a weak note. According to a CNBC TV 18 report, BofA downgraded Zomato to neutral and reduced its target price to Rs 250 from Rs 300. Whereas, Swiggy stock was also downgraded from Buy amid expectations of rising losses from quick commerce.

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IREDA share price today

The state-owned IREDA on Tuesday, announced that it has bagged a Rs 910 crore funds through bond issuance. The raised funds are likely to boost its net-worth and improve capital-to risk-weighted assets ratio.

NCC share price today

NCC shares reacted positively after the infrastructure company announced that it has secured two majo orders from the state-run BSNL. On Tuesday, the company announced that it had finalised two advance orders worth Rs 10,804.56 crore from BSNL.

Additionally, shares of BHEL, Wellspun, Prism Johnson, Ashoka Buildcon, Federal Bank, Maruti Suzuki India, etc, will also be in focus today.

Stock Market Today

Indian stock market investors are keenly watching developments in the United States after President Donald Trump hinted that he may announce a relaxation on tariffs, highlighted stock market experts. Additionally, Asian markets showed a mixed performance on Tuesday.

"There is heightened uncertainty among investors regarding the US reciprocal tariffs. On one hand, there are expectations that Trump may scale back some of his broader tariffs planned to be imposed on India; while on the other, there are latest threats from him to impose 25% "secondary tariffs" on countries such as India and China that import oil from Venezuela. This led to a surge in Brent crude prices, which negatively impacted the stocks of domestic oil companies, pushing the Nifty Oil and Gas Index down by over 1%. Nifty IT ended higher by
1.3%, mirroring gains in the tech-heavy US Nasdaq Index," said Siddhartha Khemka, Head Research, Wealth Management, Motilal Oswal Financial Services

Commenting on Nifty outlook for Wednesday, Anand James, Chief Market Strategist, Geojit Investments Limited, said, " Our downside marker placed near 23600 restrained yesterday's volatility from expanding into a downside spiral. However, an evening star candlestick pattern is suspected in formation that seeks a completion today, which could ideally penetrate the 23600 and aim for the 23300 region. But a pull back above 23700/760 could delay the onset of downsides, though an outright rise to 24200 is less expected."

Market resilience amid concerns regarding Trump tariff from 2 April

Despite Donald Trump's trade tariff announcement, the market has turned resilient, indicating a further upside if the reciprocal tariffs are less stringent than feared, opines VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

"The fundamental support to the market comes from India's improving macros and the FIIs turning buyers. The total FII buy figure of Rs 19136 crores in the last four trading days indicate that this positive trend is likely to continue. Consequently fairly valued high quality financials will continue to be resilient. If the reciprocal tariffs are not as severe as feared, pharmaceutical stocks will rebound smartly," said Vijayakumar.