Mumbai: Indian equity benchmarks began Thursday’s session on a weaker note, dragged down by persistent foreign investor selling and mixed global cues.
The BSE Sensex slipped 297.96 points to 84,699.17 during early trade, while the NSE Nifty declined 90.05 points to 25,963.85, reflecting broad-based weakness across key sectors.
Heavyweights such as Sun Pharma, Bharti Airtel, Power Grid, ITC, Tata Steel, and Asian Paints led the losses on the Sensex. However, a few stocks managed to buck the trend — Larsen & Toubro, Adani Ports, Maruti Suzuki, and Eternal were among the notable gainers.
Across Asia, sentiment remained largely upbeat. Major indices including Japan’s Nikkei 225, South Korea’s Kospi, China’s SSE Composite, and Hong Kong’s Hang Seng posted gains in early trading, offering a contrast to the Indian market’s subdued start.
Overnight, Wall Street ended on a mixed note as investors assessed corporate earnings and economic data ahead of key policy updates.
On the commodities front, Brent crude edged down 0.22% to $64.78 per barrel, providing some relief on the inflation front but failing to lift domestic equities.
Foreign institutional investors (FIIs) continued to pare exposure to Indian equities, offloading shares worth a net ₹2,540.16 crore on Wednesday, according to exchange data. Analysts say the sustained selling pressure from overseas funds has weighed on investor sentiment and may keep the markets volatile in the near term.
“The market is reacting to continued FII outflows and cautious global trends. Domestic investors are likely to remain selective ahead of key earnings announcements,” said a Mumbai-based market strategist.
Both benchmarks are expected to stay range-bound through the session unless there is a reversal in foreign fund activity or strong domestic cues emerge.
