Indian equity indices opened flat on Tuesday following mixed cues from the Asian peers. At 9.42 am, the Sensex was up 21 points or 0.03 per cent at 83,010. The Nifty was up 15 points or 0.06 per cent at 25,397. Nifty Bank was up 89 points or 0.17 per cent at 52,242.
The midcap and smallcap stocks saw marginal selling. The Nifty midcap 100 index dipped 51 points or 0.08 per cent to 60,208, whereas the Nifty smallcap 100 index dropped 58 points or 0.30 per cent to 19,478.
Sectoral indices: Auto, PSU Bank, metal, realty, and energy were the top gainers; IT, FMCG, and fin services were the top laggards.
HUL, NTPC (NS:NTPC), Nestle (NS:NEST), Asian Paints (NS:ASPN), Bharti Airtel (NS:BRTI), Bajaj Finance (NS:BJFN), Kotak Mahindra Bank (NS:KTKM), L&T, Titan (NS:TITN), ICICI Bank (NS:ICBK) and IndusInd Bank (NS:INBK) were some of the major gainers in Sensex. Tata Motors (NS:TAMO), TCS (NS:TCS), Maruti Suzuki (NS:MRTI), Bajaj Finserv (NS:BJFS), Tata Steel (NS:TISC), Wipro (NS:WIPR), UltraTech Cement (NS:ULTC), Infosys (NS:INFY) and Wipro were few of the major losers of Sensex.
Asian markets see mixed trading on Friday while Tokyo, Bangkok, and Shanghai are red. Jakarta and Hong Kong are green. US markets closed mixed Monday.
According to market experts, "World equity markets were mute yesterday and indicated wait and watch mode in anticipation of Fed rate action tomorrow. As the Fed rate action will depend on incoming data and evolving outlook, what the Fed chief Powell says would be crucial. The rate cuts are positive for markets and higher rate cuts more positive."
"Banking stocks have gained strength recently and also witnessed accumulation in these relatively attractively valued segments," they added.
On the other hand, FIIs sold equity worth Rs 1,634 crore on September 16 while domestic institutional investors bought equities worth Rs 734 crore on the same day.
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