Markets Open Flat With Positive Bias As Defense And IT Stocks Lead Early Gains

In this market update, the Nifty opened flat with a positive bias, trading around the 25,883 mark. The session saw buying interest emerging in IT and metal stocks, while the Nifty Bank remained flat. Defense stocks witnessed a significant surge, with companies like BEL and Mazagon Dock trading higher, reportedly influenced by global factors and budgetary expectations. Conversely, sectors such as FMCG, real estate, and private banks faced early pressure. The update highlights a cautious optimism in the market, with analysts pointing to short covering after recent selling sessions. The discussion also touched upon the impact of global geopolitical events, specifically mentioning Venezuela and Greenland, on market sentiments and sector-specific movements.