India’s benchmark indices, Sensex and Nifty 50, are likely to start the trading session of January 16 little changed from the previous close.

After Nifty 50 conquered the 22,000 mark, the markets posted a record close led by heavyweights like Reliance Industries as well as IT stocks, which saw continued buying. The Nifty 50 ended higher for the fifth consecutive session with the midcap index too posting a record close.

There seems to be momentum from results, a pre-election rally, and inflation data, which was softer-than-anticipated.

According to market experts, the strategy of possibly buying on dips with a focus on stock selection is likely to continue.

Globally, the US markets were closed overnight. Asia stocks were trading largely lower while Brent crude was a bit sluggish at around $78 per barrel.

The GIFT Nifty is indicating a softer start. Quarterly results are the major cues to watch out for with Federal Bank, HDFC Bank, and Bank of Maharashtra in focus.

Tune in to the Marketbuzz Podcast for more cues