Sensex, Nifty open in green despite FPI outflows and war concerns

Mumbai (Maharashtra) [India], March 18 (ANI): The domestic share markets opened in the green on Wednesday, showing resilience despite ongoing geopolitical uncertainty due to the US-Israel-Iran war and continued foreign outflows.
The Nifty 50 opened at 23,632.90, gaining 51.75 points or 0.22 per cent, while the BSE Sensex opened at 76,367.55, rising by 296.71 points or 0.39 per cent.
Market experts noted that Indian markets have shown resilience in recent sessions despite significant foreign portfolio investor (FPI) outflows.
Ajay Bagga, banking and market expert, told ANI, "Indian markets have been resilient over the last two days, bouncing from extreme pessimism and oversold levels. DIIs have countered outflows of over Rs 70,000 in March from FPIs in the cash equity segment. The resilience of the Indian market recovery will depend on the scale and duration of the oil and gas market disruption. That is a big known unknown, and markets are not fully pricing a longer disruption for now."
He further added, "The US Fed meeting is the biggest economic event of the week. The Fed is expected to be on 'hold' with markets factoring in one rate cut towards the end of 2026."
In the broader markets on the NSE, indices traded firmly in the green. The Nifty 100 rose by 0.65 per cent, Nifty Midcap 100 surged by 0.98 per cent, and Nifty Smallcap 100 gained 1 per cent.
Sectoral indices also showed strong performance across the board. Nifty Auto surged by 1.38 per cent, Nifty FMCG gained 0.48 per cent, Nifty IT rose by more than 2.3 per cent, Nifty Pharma increased by 0.42 per cent, Nifty PSU Bank advanced by 1 per cent, and Nifty Consumer Durable was up by 0.95 per cent.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "With total uncertainty and confusion regarding the trend of the war continuing, this uncertainty is getting reflected in the market, too. Even seasoned experts lack the conviction to advise investors on the right strategy. All that can be said with conviction now is: remain invested and continue with SIPs."
Meanwhile, crude oil prices remained elevated, trading at USD 103 per barrel at the time of filing this report, adding to global concerns.
In the commodities segment, gold prices were on a downward trend, trading at Rs 155743 per 10 grams for 24 carat. Silver prices also declined and were at Rs 251301 per kg.
In other Asian markets, most major indices were trading in the green during Wednesday's opening session. Japan's Nikkei 225 surged by 2.21 per cent to 54887 levels, Singapore's Straits Times gained 0.94 per cent to 4982 levels, Taiwan's Weighted index rose by 1.56 per cent to 34356 levels, and South Korea's KOSPI rallied by 3.84 per cent to 5856 levels. However, Hong Kong's Hang Seng index was marginally down by 0.16 per cent at 25826 levels.
In the US markets on Tuesday, major indices also closed higher. The Dow Jones gained 0.1 per cent to 46993 levels, the S&P 500 rose by 0.25 per cent to 6716 levels, and the Nasdaq increased by 0.47 per cent to 22479 levels. (ANI)

(This article was generated from news agency ANI without modifications to the text.)