It was another fight today between the bulls and bearish forces and the bearish forces managed to pull the gains down to lower greens.
Indian equity markets opened with caution on August 29, 2025, with the Sensex slightly lower by 47 points at 80,033 and the Nifty50 slightly below 24,500 at 24,487. Market sentiment continues to remain weak on account of recent US tariffs levelled against Indian exports, bringing uncertainty to export-oriented industries and putting further pressure on global trade flows.
Nifty50 trades above 24,550 gaining more than 50 points and Sensex trades above 80,280, gaining 0.25% close to the noon.
FMCG space was at the forefront of gains, led by contributions of Hindustan Unilever, Asian Paints, Nestle India, and ITC, which saw gains of up to 2%. Financial institutions such as Kotak Mahindra Bank, Shriram Finance, and Jio Financial Services were also in focus among investors due to faith in domestic consumption and financial services.
On the other hand, auto shares like Mahindra & Mahindra, Bajaj Auto, and Eicher Motors came under selling pressure on account of fears of a trade war and export worries. Energy majors NTPC and ONGC also moved southward, along with banking stocks like IndusInd Bank hinting at weakness.
Everyone is looking to the 48th Annual General Meeting of Reliance Industries, where investors would like to have some clarity on growth plans, the much-awaited Jio IPO timeline, and news on the new energy and digital businesses of the company. The AGM will determine the tone for Reliance's market movement.
Technically, the Nifty is probing support areas of 24,400 to 24,350. Support at this level is critical to facilitate a bounce back with an eye on resistance of 24,725 and 24,800. If the support is not held, the index could drift toward the 24,000 level, which would indicate caution from investors.
Midcap and Smallcap indices indicated risk aversion, falling by 0.60% and 0.45%, respectively. Market players are also looking for India's Q1 GDP data release today, which may offer further economic signals that guide market direction and investor sentiment.
Indian equity markets, in general, trade with optimism but with caution as investors balance domestic growth opportunities against global trade challenges. Defensive consumption and financial stocks continue to be preferred, while export-dependent sectors remain subdued. The Reliance AGM and GDP data announcement outcome could prove to be turning points in determining near-term market direction.
