Mumbai: Sensex and Nifty Open Lower on Negative Global Cues
Indian benchmark indices Sensex and Nifty started the day in negative territory, influenced by adverse trends in US and Asian markets.
As of 9:45 a.m., Sensex was trading 139 points lower, down 0.19% at 73,865 points, while Nifty recorded a decline of 25 points or 0.11%, standing at 22,476 points.
The Nifty Midcap 100 index was down 84 points or 0.16% at 51,784 points, and the Nifty Small 100 index saw a decrease of 35 points or 0.21%, settling at 16,975 points.
During early trading, the India Volatility Index (India VIX) rose by 7.21% to 22.01 points.
Sector-wise, PSU Bank, Metal, Media, Energy, Infra, Commodities, and PSE indices showed gains, while Auto, IT, Financial Services, Pharma, and FMCG sectors experienced declines.
Fifteen out of the thirty stocks on the Sensex reported gains. JSW Steel, Kotak Mahindra Bank, Tata Steel, Power Grid, NTPC, and SBI were among the top gainers, while Nestle, Axis Bank, UltraTech Cement, HUL, and M&M were the top losers.
Most Asian markets were also trading in negative territory, following a downturn in US markets, where the Dow Jones Industrial Average had dropped nearly 0.5% on Monday.
Crude oil prices saw a decline of approximately 0.5%, with Brent crude holding steady around $83 per barrel and WTI crude at $78 per barrel.
Market analysts noted, “Q4 results have generally shown good performance with significant revenue and profit after tax (PAT) growth. Sectors such as banking, two-wheelers in automobiles, capital goods, real estate, and pharmaceuticals have reported impressive results, suggesting positive prospects moving forward.”
They emphasized, “Investors should monitor these sectors closely as they could lead a rally influenced by upcoming election results.”
