Indian equity markets opened on a weak note on Thursday, with the benchmark Sensex and Nifty facing selling pressure amid weakness in heavyweight stocks and continued geopolitical uncertainty.
The 30-share BSE Sensex declined up to 153 points to 77,319 during early trading. The NSE Nifty50 slipped 29 points to 24,178. At around 10:30 am, the Sensex was trading 118 points down at 77,354, while the Nifty traded was trading 25 points lower at 24,182 .
HDFC Bank, IT stocks weigh on markets
HDFC Bank was among the key stocks dragging the Sensex lower. HCL Technologies, NTPC, Mahindra & Mahindra, Power Grid Corporation and Tata Consultancy Services were also among the major losers in the 30-share index.
On the other hand, Kotak Mahindra Bank, Tech Mahindra, Bharat Electronics and Bajaj Finance were among the stocks trading higher.
Market sentiment remained cautious as geopolitical tensions continued to create uncertainty for investors. According to market analysts, ongoing geopolitical developments were weighing on the market outlook.
Global cues remain mixed
Crude oil prices also remained a key factor for investors. Brent crude, the global benchmark, was trading 0.44% lower at $87.45 per barrel.
Asian markets delivered mixed signals. South Korea’s Kospi, Japan’s Nikkei 225 and Shanghai’s SSE Composite were trading higher, while Hong Kong’s Hang Seng remained in negative territory. US markets had also closed lower on Wednesday.
Despite the cautious mood, foreign institutional investors remained net buyers, purchasing Indian equities worth ₹502.63 crore on Wednesday, according to exchange data.
The previous session had also ended lower. The Sensex declined 183.15 points, or 0.24%, to close at 77,472.94, while the Nifty fell 126.80 points, or 0.52%, to settle at 24,207.75.
