Markets Open Flat After Strong Run
The Indian stock market started quietly on Thursday, September 11. The Sensex opened at 81,368.44, slipping around 57 points, while the Nifty 50 started at 24,956.75, down by 16 points early in the trade. This came after a strong performance on Wednesday, when the Sensex closed at 81,425.15 and the Nifty at 24,973.10, both up more than 0.4% from the previous session.
Why the Market is Slowing
The main reason for today’s weak start is the fall in IT stocks. The Nifty IT index dropped 0.4%, with Infosys down almost 1% ahead of its board meeting on a possible share buyback.
Even so, traders are still hopeful. Positive news from U.S.–India trade talks, GST rate cuts, and chances of a U.S. Fed rate cut are keeping overall market sentiment strong.
Stocks in Focus
- Adani Power gained more than 2% after getting approval for a new underground coal mine in Nagpur. The company is also working on a big hydropower project in Bhutan.
- Reliance Industries made headlines with the launch of a new subsidiary called Reliance Intelligence, focused on Artificial Intelligence (AI).
- Nestlé India rose by 1.2%, while Larsen & Toubro (L&T) also stayed strong with nearly 1% gains.
Technical View
Experts say the Nifty needs to hold above 24,800 for strength. On the higher side, the index could move towards 25,200–25,500 if buying continues. The Bank Nifty index also looks set for a recovery and may head towards 56,000 in the coming weeks.
The market opened flat on September 11 after six days of gains. IT shares were weak, but power, infrastructure, and consumer stocks gave some support. Traders are watching if the Nifty can cross and hold above the 25,000 mark in the next few sessions.
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