Stock market: Sensex flat, Nifty at 25,261; IndiGo shares down 2%

Domestic equity benchmarks Sensex and Nifty began Friday’s session on a muted note, tracking global markets, following an improvement in global risk sentiment after geopolitical concerns surrounding Greenland showed signs of cooling. However, the movement was capped as foreign outflows persisted and earnings remained mixed domestically.

At 9:18 am, the BSE Sensex slipped 63.50 points, or 0.08%, to 82,243.87. The NSE Nifty fell 28.75 points, or 0.11%, to 25,261.15.

Among Sensex constituents, InterGlobe Aviation (IndiGo) dropped 1.75% to Rs 4827.80. Power Grid Corporation of India declined 1%, while Adani Ports, Axis Bank and UltraTech Cement fell 0.98%, 0.67% and 0.49%, respectively.

Asian markets traded in the green. At last check, Japan’s Nikkei 225 was up 0.34% to 53,870.35, while South Korea’s Kospi rose 0.91% to 4,997.76. Hong Kong’s Hang Seng Index edged up 0.32% to 26,715.85.

All three of the major indices closed higher on Wall Street overnight. The S&P 500 advanced 0.55% to close at 6,913.35, while the Dow Jones Industrial Average gained 0.63% to 49,384.01. The Nasdaq Composite rose 0.91% to settle at 23,436.02.

Meanwhile, on Thursday, the Sensex jumped 397.74 points, or 0.49 per cent, to end at 82,307.37. The Nifty rose 132.40 points, or 0.53 per cent, to settle at 25,289.90.

Indian equities are likely to see a muted start on January 23, said Hitesh Tailor, Research Analyst at Choice Equity Broking Private Limited.

"Indian equities are expected to open on a flat to mildly negative note on January 23, with GIFT Nifty indicating a start around 25,338, nearly 11 points lower," Tailor said. While the analyst noted that near-term sentiment remains guarded, he emphasised that underlying domestic technical indicators continue to offer some support.

Tailor cautioned that external factors remain critical, stating that the broader market direction is likely to remain influenced by global equity cues, movements in crude oil prices, and trends in institutional fund flows.

Despite the selling pressure, Tailor highlighted that the Nifty managed to hold above its 200-day DEMA. Regarding key technical levels to watch, he said, "Immediate resistance is placed in the 25,400–25,450 zone, while key support is seen at 25,100–25,150."