Mumbai: Indian stock markets opened lower on Thursday, October 1, as persistent foreign institutional investor selling weighed on sentiment. Auto and cement shares led the decline, while gains in IT and private banking stocks offered some support.
The BSE Sensex opened at 72,192.89, falling 287.39 points, or 0.39 per cent. The NSE Nifty opened at 22,543.70, down 76.75 points, or 0.34 per cent.
Auto And Cement Stocks Drag
Nifty Auto, Nifty Cement, Nifty Realty, Nifty Media and Nifty Healthcare were among the weakest sectoral indices, with losses reaching 2.76 per cent in early trading.
Energy, metal and pharma indices also declined, losing between 0.86 per cent and 0.95 per cent.
However, Nifty IT gained more than 1 per cent, while Nifty Private Bank rose 0.60 per cent, providing pockets of strength during the weak opening.
FII Selling Continues, DIIs Buy
Foreign institutional investors remained net sellers for the fifth straight session on Wednesday. They sold Indian equities worth more than ₹10,148 crore, according to provisional data.
Domestic institutional investors bought shares worth ₹11,271 crore during the same session, helping cushion the impact of overseas selling.
Analysts said continued foreign fund outflows and rising US bond yields could weigh on large-cap stocks in the near term.
During September, FIIs sold equities worth ₹45,536 crore through stock exchanges, while investing ₹9,676 crore in the primary market, analysts noted.
Nifty Support And Resistance Levels
Analysts described the immediate market outlook as sideways to bearish. They placed Nifty support at 22,500–22,550 and resistance at 22,800–22,900.
A sustained rise above resistance could improve investor confidence. A fall below support, however, could prolong selling pressure.
Crude Oil Prices In Focus
Brent crude remains another key market trigger. Analysts said a decline below $98 a barrel could bring some relief to Indian equities.
Investors will closely watch foreign fund flows, bond yields and oil prices for signals about the market’s next move.
