The Indian stock market began the week on a relatively flat note, with benchmark indices showing marginal gains amid mixed global cues. Both the Sensex and Nifty 50 traded higher after six consecutive weeks of declines, but gains were limited due to lingering concerns about potential new U.S. tariffs on Indian goods.

Market Performance:

• The Sensex opened with a jump of over 50 points and the Nifty surpassed the 24,350 mark.
• At 9:19 AM, the Nifty50 was trading at 24,398.65, up 35 points or 0.15%, while the BSE Sensex was at 79,929.78, up 72 points or 0.090%.
• The GIFT Nifty also indicated a muted start for the Indian benchmark index.

Sectoral Performance:

• Nifty is holding above the key 200-day EMA near the 24,200 level.
• Analysts are expecting weakness to persist in the near term, with selling pressure likely until a breakout above 24,600–24,800.
• Key support is seen at 24,000.

Top Stocks:

• Grasim was among the top gainers, rising by 2%.
• Shares of oil marketing firms, including Hindustan Petroleum, Bharat Petroleum and Indian Oil Corporation, were in focus following the Cabinet's approval of a compensation package for OMCs.
• Tata Motors is also expected to be in focus after Q1 results.

ICICI Bank:

• ICICI Bank's stock experienced a slight drop of -0.45% to Rs. 852.05 at closing at BSE.
• ICICI Bank was trading -0.51% lower at Rs 1,429.10 compared to its last closing price.
• Shares of ICICI Bank are likely to be in focus as the private sector lender has raised the minimum balance requirement for its new savings bank accounts opened by five times to ₹50,000.

Global Influences:

• Mixed sentiment in the global market is contributing to the flat start.
• Asian equities showed slight gains at opening, with investors remaining prudent ahead of crucial economic releases this week and pending decisions on US tariffs for Chinese exports.
• Concerns persist regarding potential new U.S. tariffs on Indian goods.

Expert Opinions:

• Analysts expect the weakness to persist in the near term, with selling pressure likely until a breakout above 24,600–24,800.
• Sudeep Shah from SBI Securities noted that the 100-day EMA zone of 54,950 – 54,850 will be a critical support area for Bank Nifty.

Other Factors:

• Domestic CPI and WPI inflation figures will be a focus this week.
• India-US trade negotiations remain crucial amidst ongoing dialogue for a trade agreement.
• Foreign institutional investors increased their net short positions in the futures market.
• Gold prices edged lower due to a stronger dollar and profit-taking.
• Investors are awaiting U.S. inflation data for clues on the Federal Reserve's interest rate trajectory.

Overall, the Indian stock market is exhibiting caution amid global uncertainty and domestic factors. While there are positive movements in some sectors and stocks, concerns about tariffs and economic data are keeping gains in check.