Indian stock markets opened on a relatively flat note today, July 17, 2025, with the benchmark Sensex and Nifty indices displaying range-bound movement. While the headline indices struggled for direction, mid- and small-cap indices edged higher, indicating some positive momentum in the broader market. The IT sector, however, seemed to be a drag on the overall market performance.
At the time of writing, the BSE Sensex was trading at 82,665, up 30 points or 0.04 percent. The Nifty50 was at 25,208, down 3 points or 0.01 percent.
Among the top gainers in the Sensex pack were Trent, M&M, Sun Pharma, BEL, Bharti Airtel, Tata Motors, and Titan Company, with gains of up to 0.6 percent. On the other hand, Tech M, ICICI Bank, Eternal (Zomato), Reliance Industries, HUL, and Adani Ports were among the top losers, declining up to 1.2 percent.
The Nifty MidCap index and the Nifty SmallCap index both gained up to 0.4 percent, reflecting positive sentiment in the broader market. The Nifty MidSmallcap 400 Index is designed to reflect the behaviour and performance of mid and small market capitalization companies. The index includes all companies forming part of Nifty Midcap 150 and Nifty Smallcap 250 index. It represents about 25.31% of the free float market capitalization of the stocks listed on NSE as of March 28, 2025.
Sectorally, there was divergence, with Nifty IT and Nifty Private Bank indices trading in the red, although off their lows. The Nifty MidSmall IT & Telecom index tracks the performance of midcap and small cap stocks belonging to information technology & telecommunication sector. The index includes upto 20 stocks. Stock weights are based on free-float market capitalization.
Market analysts suggest that the current range-bound movement indicates indecision among bulls and bears. They believe that 25,100/82,300 will remain a key support zone for traders. As long as the market remains above this level, the bullish trend is likely to persist.
However, a move below 25,100/82,300 could change the trend, potentially leading to a fall towards the 50-day SMA or the 25,000-24,900/82,000-81,700 zone. Bank Nifty is trading in a range but is gaining strength and is not participating in a downtrend, which is positive. Above 57100, it has scope to move towards the ultimate resistance level of 57500/57600.
The Indian stock markets are carefully assessing the June quarter earnings domestically, and comments on India-US trade deal, globally. Markets may see volatile moves amid the Nifty50's weekly F&O expiry.
