New Delhi, Jan. 16 -- The domestic equity benchmarks opened marginally higher on Thursday but are expected to remain cautious and range-bound through the session, weighed down by persistent foreign portfolio investor (FPI) selling, mixed global cues and limited expectations from the upcoming Union Budget.

The Nifty 50 opened at 25,696.05, gaining 30.45 points or 0.12 per cent, while the BSE Sensex began the day at 83,670.79, up 288.08 points or 0.35 per cent.

Ajay Bagga, Market expert told ANI that Indian markets are currently in a "wait and watch" mode. He said "There are not very high expectations from the Union Budget 2026 so far has been like 2025, with IPOs seeing a "lottery investment for listing gains" mentality while FPI selling...