The domestic benchmark indices opened flat on Thursday as selling was seen in the PSU bank, pharma, FMCG, realty, media, energy and metal sectors on Nifty.
At around 9.31 am, Sensex was trading at 78,573.16 after rising 65.75 points or 0.08 per cent, while Nifty was trading at 23,766.05 after rising 23.15 points or 0.10 per cent.
The market trend remained positive. On the National Stock Exchange (NSE), 1,366 stocks were trading in green, while 529 stocks were in red.
According to market experts, Q3 corporate earnings are unlikely to register a rebound which means that investors have to focus on segments which will buck the slowdown.
Nifty Bank was up 21 points or 0.04 per cent at 51,081.60. Nifty Midcap 100 index was trading at 57,471.35 after rising 20.45 points or 0.04 per cent. Nifty Smallcap 100 index was at 18,961.95 after rising 2.15 points or 0.01 per cent.
On the sectoral front, buying was seen in the Auto, IT, financial service and private bank sectors on Nifty.
Amongst the Sensex pack, major gainers Bajaj Finance (NS:BJFN), Kotak Mahindra Bank (NS:KTKM), Tata Motors (NS:TAMO), Bajaj Finserv (NS:BJFS), UltraTech Cement (NS:ULTC), Maruti Suzuki (NS:MRTI), M&M (NS:MAHM), Infosys (NS:INFY), Zomato (NS:ZOMT), IndusInd Bank (NS:INBK) and ICICI Bank (NS:ICBK), while on the other hand the top losers in the same lot were NTPC (NS:NTPC), HDFC Bank (NS:HDBK), Asian Paints (NS:ASPN), Bharti Airtel (NS:BRTI), ITC (NS:ITC) and Tech Mahindra (NS:TEML).
The Dow Jones was lower by 0.07 percent and ended the day at 42,544.22. The S&P 500 also dipped 0.43 percent to 5,881.60, and the Nasdaq decreased by 0.90 percent and closed the trading session at 19,310.79.
Asian Markets- Jakarta has opened in the green, and the markets were seen in the red at Hong Kong, China, Bangkok, and Seoul.
Experts opine that FIIs might keep up selling on account of dollar remaining robust, and its yield from the US bonds, thus remaining largely ignore the emergent markets short term.
"While DII buying can support the market at lower levels, that is not enough to take the market higher. For higher market levels we will have to wait for indications of growth and earnings recovery," they noted.
On January 1, FIIs sold equities worth Rs 1,782.71 crore, while on the same day, domestic institutional investors bought equities worth Rs 1,690.37 crore.
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