Sensex, Nifty open flat; FMCG, Metal and Consumer durables down, IT, PSU banks and Reality gains

New Delhi [India] May 28 (ANI): Indian stock markets on Wednesday opened flat despite a strong handover from the markets of the United States and Asian peers.
At the start of the trading session, BSE Sensex was at 81,457.61, down 94 points or 0.12 per cent, while Nifty 50 at the National Stock Exchange (NSE) started at 24,832.50, up 6.30 points or 0.03 per cent.
In the opening hour of the trade at NSE, the Nifty FMCG was down about 1.22 per cent becoming the top loser followed by Metal, Consumer Durables and Auto. Sectors gaining include Nifty IT, up 0.5 per cent, followed by Nifty PSU bank and Nifty Reality up 0.3 per cent.
Experts say that the Investors in the Indian stock markets are witnessing non-directional trading activity.
Observing the market's mood, Ajay Bagga Banking and market expert, said, "Monthly expiry looms on Indian markets. Tuesday saw a very volatile day and we expect Wednesday and Thursday to be likewise."
"India VIX at 18 levels is elevated but still not at a "fearful" level for experienced hands who have seen 86 levels on it during the 2008 GFC and 2020 Covid. Rising Covid cases are a slight worry so far; the expectation is that it is a mild variant that is striking with the onset of the rains and will be contained," he added.
As per Bagga, Trump's walk back of his threat on EU tariffs of 50 per cent was the driver for a sharp recovery in US markets, which came back after the Memorial day holiday on Monday.
"Asian markets are up as well, taking the cue from the US markets. US PCE data on Friday is the big data point this week. Rest will be the usual Trump Speak-driven market churns," Bagga added.
Globally, investors' mood looks mixed due to the geopolitical developments.
The upcoming week from May 28 to 31, 2025, is poised to deliver several significant economic releases across India, the United States, and China, which could shape global market expectations and investor sentiment.
As per the Bajaj Broking Research team added in its note, the investors in the ongoing week will have attention on two key indicators.
On May 28, the Industrial Production (YoY) data for April will be released, offering insights into the country's manufacturing momentum and economic activity.
Later in the week, on May 30, markets will look to the GDP Quarterly (YoY) figures, a critical barometer of overall economic growth and resilience amid evolving domestic and global conditions. (ANI)