Indian Stock Market Opens Lower Amid Weak Global Cues
The Indian stock market opened lower on Friday, following weak global cues, with notable selling pressure observed in the IT and private bank sectors.
At around 9:30 am, the BSE Sensex was trading at 76,717.03, marking a drop of 325.79 points or 0.42%, while the NSE Nifty stood at 23,225, down 86.80 points or 0.37%.
On the National Stock Exchange (NSE), 1,118 stocks were trading in the green, while 1,039 stocks were in the red.
Despite the negative opening, experts pointed out two key positives for the market. First, the declining trend in the US dollar index and bond yields, and second, the better-than-expected Q3 results from major companies like Reliance Industries and Infosys. “These two stocks have the potential to lead a minor recovery in the market,” analysts noted.
In sector-specific movements, the Nifty Bank index fell 470.55 points or 0.95% to 48,808.15. The Nifty Midcap 100 index was trading at 54,275.15, down 208.65 points or 0.38%, while the Nifty Smallcap 100 index stood at 17,625.10, declining by 18.20 points or 0.10%.
Among the top losers in the Sensex pack were Infosys, Axis Bank, TCS, HCL Tech, M&M, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, and IndusInd Bank. On the other hand, Reliance Industries, Zomato, L&T, Sun Pharma, Adani Ports, ITC, and Tata Motors emerged as the top gainers.
Globally, US markets saw declines with the Dow Jones dropping 0.16% to close at 43,153.13, the S&P 500 down 0.21% to 5,937.34, and the Nasdaq falling 0.89% to 19,338.29 in the previous session.
In the Asian markets, Seoul, Bangkok, and Japan were trading in the red, while China, Jakarta, and Hong Kong were showing positive movements.
Market experts noted that the recent market correction has made large-cap valuations more reasonable, with the Nifty now trading at around 19 times estimated FY26 earnings. “Long-term investors, who can overlook the volatility caused by foreign institutional investors (FIIs) selling, can use the dips to buy high-quality large-cap stocks. The rebound in this segment is just a matter of time,” they added.
Meanwhile, Foreign Institutional Investors (FIIs) sold equities worth Rs 4,341.95 crore on January 16, while Domestic Institutional Investors (DIIs) bought equities worth Rs 2,928.72 crore on the same day.
