Nifty, Sensex open flat, Experts expect Diwali festivities to boost markets

Indian stock markets on Thursday opened flat as the balancing by FIIs selling and DIIs buying continuesThe Nifty 50 index opened with a marginal gain of 022 per cent or 5610 points at 2502740 points while the BSE Sensex index opened with a gain of 031 per cent at 8175807 points gaining 25671 pointsAjay Bagga Banking and Market Expert told ANI that US markets remain in a See No Downside Hear No Downside and Fear No Downside Mode In India we are expecting pre Diwali cheer to catch up with the markets albeit a little late We are moving into the last two weeks before the Diwali spending surge in India and before the US Presidential Election of November 5th Historically US markets decline in the month before the Presidential Election and then recover post the declaration of the results We expect these two factors to help the Indian markets going aheadIn the sectoral indices on the National Stock Exchange except Nifty Auto and Nifty Realty all other indices opened in positive territory with Nifty IT emerging as the leader in gains surging 053 per cent in the opening sessionIn the Nifty 50 shares list 25 stocks opened with gains while 25 stocks declined in the opening session Today is the last day of Hyundai Motor Indias initial public offering IPO which received 42 percent subscription on the second day of bidding on October 16In India the consolidation around Nifty 25000 level is likely to be extended with bouts of FII selling and DII buying The reemergence of outperformance of smallcaps driven by liquidity is again becoming a cause of concern said V K Vijayakumar Chief Investment Strategist Geojit Financial ServicesIn the quarterly announcements today Infosys Axis Bank Wipro Nestle India Polycab Havells Jindal Stainless and Tata Communications are the major companies to announce the financial results for the second quarter of FY 25In other Asian markets Hong Kong and Singapore indices gained more than 1 per cent on Thursday while Japans Nikkei index was down by 060 per cent South Koreas KOSPI index remained flat at the time of filing this reportThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever