Sensex Today Trades Flat | Nifty Above 24,250 | Kotak Mahindra & Tata Steel Top Gainers - Equitymaster

Indian equity markets opened on a cautious note on August 2026, with the Sensex trading flat while the Nifty managed to stay above the 24,250 mark. The early session saw mixed cues from global markets, as investors awaited fresh domestic economic data. Among the top gainers were Kotak Mahindra and Tata Steel, which provided some support to the indices. However, selling pressure in select heavyweights kept the benchmarks in a narrow range.

According to market analysts, the flat opening reflects a lack of decisive triggers. While positive global cues from US and European markets provided some tailwind, profit booking in IT and FMCG stocks weighed on sentiment. The Nifty’s ability to hold above 24,250 is seen as a positive sign, but traders remain cautious ahead of key earnings releases and macroeconomic data due later this week.

Kotak Mahindra Bank emerged as a top gainer, rising over 1.5% in early trade, driven by strong buying interest from institutional investors. Tata Steel also gained nearly 1.2%, supported by firm global steel prices and expectations of robust domestic demand. Other notable gainers included Hindalco and JSW Steel, which added to the positive momentum in the metal pack.

On the other hand, IT stocks such as Infosys and TCS witnessed mild selling pressure, while FMCG majors like Hindustan Unilever and Nestle traded lower. The broader market indices, including the BSE Midcap and Smallcap, were relatively flat, indicating a mixed sentiment among investors. The volatility index, India VIX, remained subdued, suggesting that market participants are not expecting sharp moves in the near term.

Here is a snapshot of the key indices at the time of writing:

Analysts believe that the market is in a consolidation phase, with support for the Nifty placed at 24,100 and resistance at 24,400. A breakout above this range could trigger fresh buying, while a fall below support may lead to further correction. They also note that foreign institutional investors (FIIs) have turned net buyers in the last few sessions, which has provided some stability to the market.

"The current market is witnessing a tug-of-war between bulls and bears. While the undertone remains positive, investors should not chase prices blindly and instead focus on quality stocks with strong fundamentals," said a market expert.

As the trading day progresses, all eyes will be on the movement of the rupee and crude oil prices, which could influence market direction. Additionally, any unexpected geopolitical developments could add to volatility. For now, traders are advised to maintain a stock-specific approach and keep a close watch on global cues.

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