Market Holds Steady Amid IPO Rush Despite Global Setbacks

The Indian stock market opened slightly in the green on Monday, following a week of corrections, as investor caution remained over U.S. President Donald Trump's tariff policies affecting the pharmaceutical sector and India. The Nifty 50 index began at 24,728.55, a gain of 73.85 points or 0.30%, while the BSE Sensex started at 80,588.77, rising by 162.31 points or 0.20%.

Market analysts pointed out an active week ahead for the primary markets with several IPOs set to open and multiple listings scheduled, marking it as an IPO-focused period. Experts warned that the secondary markets, especially IT stocks, might continue facing pressure. Ajay Bagga, a banking and market expert, remarked that while Asian markets were subdued, attention remained on the upcoming rate decisions by the RBI and RBA. The NSE's monthly derivatives expiry and heavy short positions by Foreign Portfolio Investors are also under scrutiny. Notably, 21 IPOs are slated to launch, and 26 companies are expected to debut their listings.

Globally, U.S. stocks closed last week on a weak note, with indices dropping from 0.2% to 0.8%. Profit-taking in the AI-driven rally and a revised U.S. GDP growth to 3.8% affected the markets. Concerns about a possible U.S. government shutdown were highlighted. Technically, Nifty IT experienced a significant drop, with warnings of further declines across several sectors including pharma, healthcare, and media.