Nifty and Sensex open flat as FMCG and realty stocks decline

Nifty and Sensex started the day without much change on November 27. The market sentiment was affected by a decline in realty, pharma, and FMCG stocks.

At around 9:30 am, the Sensex was down 52.03 points, or 0.07 percent, at 79,952.03, while the Nifty fell 19.60 points, or 0.08 percent, to 24,174.90. However, the auto and IT sectors provided some support, and Adani Enterprises, Coal India, M&M, Adani Ports, and Kotak Mahindra were the top gainers on the Nifty.

It is worth noting that foreign institutional investors (FIIs) have been net buyers for the second consecutive session, which could help maintain positive momentum. Kranthi Bathini, Director of Equity Strategy at Wealthmills Securities, suggested that sustained buying could lead to a gradual market recovery. He also mentioned that the strong US economy, easing inflation, and anticipated interest rate cuts by the US Federal Reserve in December are expected to boost market sentiment going forward.

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