Mumbai: Indian equity markets started Friday’s session on a weaker note, with both benchmark indices slipping amid sustained foreign investor outflows and mixed cues from global markets. (Stock Market Today)
The BSE Sensex dropped by 299.17 points in early trading, settling at 80,684.14. Meanwhile, the NSE Nifty also declined, losing 76.75 points to trade at 24,759.55.
Heavyweights such as Mahindra & Mahindra, HDFC Bank, ICICI Bank, Bajaj Finance, and UltraTech Cement dragged the indices down, reflecting weakness across sectors. Other notable laggards included Bajaj Finserv and Maruti.
On the other hand, select stocks showed resilience. Tata Steel, Axis Bank, Bharat Electronics, and Tata Motors were among the few that registered gains in an otherwise subdued market. (Stock Market Today)
Globally, Asian markets showed mixed trends. Japan’s Nikkei 225 and South Korea’s Kospi edged higher, while China’s SSE Composite and Hong Kong’s Hang Seng Index slipped into the red.
Wall Street closed higher on Thursday, offering some optimism, but it wasn’t enough to offset concerns at home.
In commodities, Brent crude rose modestly by 0.59% to trade at $64.49 per barrel, signaling a slight uptick in global oil demand.
Investor sentiment continues to be influenced by foreign institutional investors (FIIs), who remained net sellers earlier this week, offloading shares worth ₹1,605.20 crore. In contrast, domestic institutional investors (DIIs) supported the market with purchases amounting to ₹2,916.14 crore.
Markets were shut on Thursday due to Gandhi Jayanti and Dussehra holidays, making Friday’s opening the first opportunity to react to global developments.
Analysts expect volatility to persist in the near term as investors keep an eye on global economic indicators, foreign fund activity, and corporate earnings.
