Indian equities opened flat this Thursday, pressured by subdued international signals just before the release of the Economic Survey. The benchmark Sensex inched up 0.03% or 22.53 points to 82,367.21 at the opening bell, while Nifty edged higher by 0.01% or 2.25 points to 25,345.

The calm was short-lived. Bearish momentum took hold swiftly, with Sensex tumbling around 200 points initially and Nifty breaching 25,300. By mid-morning, losses deepened: Sensex was down 447 points (0.54%) at 81,897.36, and Nifty retreated 124 points (0.49%) to 25,218.35.

NSE’s sectoral performance was largely negative, with nine out of 15 sectors in the red. IT and auto indices led the declines at 0.77% and 0.76% respectively, offset slightly by gains in metals. Realty and oil & gas managed 0.4% advances.

Midcap and smallcap indices provided a counterbalance, climbing 0.06% and 0.45% respectively. Market participants are closely watching the Economic Survey 2025-26, slated for tabling by FM Nirmala Sitharaman.

Gainers in the Sensex pack included L&T, Tata Steel, NTPC, Power Grid, SBI, Eternal, and Axis Bank. Losers were spearheaded by Maruti Suzuki, Indigo, BEL, Asian Paints, HUL, and Titan.

According to Choice Broking’s Hitesh Tayler, caution prevails despite supportive technicals. Future movements depend on global cues, oil dynamics, and FII/DII activities.

Recapping yesterday, Nifty held firm above 25,300 on India-EU trade hopes and upbeat globals. Key support at 25,200 shows resilience, but resistance looms at 25,400-25,500. Breaching lower could trigger further correction.

In this volatile environment, analysts recommend sticking to quality picks with solid fundamentals. Long positions make sense post a decisive Nifty breakout beyond 25,700.